EMC (EMC) this morning posted Q1 revenue of $3.9 billion, up 23% from a year ago, and ahead of the Street at $3.71 billion. Non-GAAP EPS of 26 cents a share beat the Street� by two cents.
For the full year, the storage and software giant now sees revenue of $16.5 billion and non-GAAP EPS of $1.18 a share, up from previous guidance of $16 billion and $1.12. The Street has been forecasting $16.04 billion and $1.14.
In a statement, EMC CFO said that the company in the quarter “saw customers move forward with increased confidence, focusing not only on cost cutting initiatives, but beginning new innovative projects in their traditional and virtual data center infrastructures.”
EMC this morning is up 46 cents, or 2.4%, to $19.87.
Note: Item corrected to fix reference to Street EPS expectations.
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