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EMC beats expectations with strong fourth quarter

The storage specialist has reported fourth-quarter earnings of $628m as it gears up to make a big push into the mid-market

Storage giant EMC has reported strong fourth-quarter results and raised its outlook for 2011.

On Tuesday, the company reported earnings of $628.6m (£396.2m), or 29 cents a share, on revenue of $4.9bn — up 19 percent from a year ago. Non-GAAP earnings were 42 cents a share, a penny ahead of Wall Street analysts' estimates. Analysts were looking for fourth-quarter earnings of 41 cents a share on revenue of $4.79bn.

For 2010, EMC reported earnings of $1.9bn, or 88 cents a share, on revenue of $17bn, up 21 percent from a year ago. EMC recently launched a big push into the mid-market and is aggressively targeting NetApp.

For more on this ZDNet UK-selected story, see EMC delivers strong fourth quarter, ups 2011 outlook on ZDNet.com.


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