EMC raises 2010 outlook after strong Q1 earnings

The company has raised its outlook for 2010 after reporting strong first quarter earnings, up 23 percent from a year ago

EMC's first quarter earnings were strong and the company raised its 2010 outlook as enterprise spending on datacentres picks up.

The company, which provides enterprise storage and software services, reported first quarter earnings of $373m (£242m), or 17 cents a share, on revenue of $3.9bn, up 23 percent from a year ago. Non-GAAP earnings were 26 cents a share, two cents ahead of Wall Street estimates. Wall Street was looking for revenue of $3.7bn.

EMC's strong quarter was not totally unexpected given VMware reported better-than-expected results. Since EMC is the majority owner of VMware, the results tend to move in tandem.

For more on this story, see EMC raises 2010 outlook as data center, private cloud buildouts ramp on ZDNet.com.