Revenue of $5.31 billion for second quarter shows 10% growth
Net income for the second quarter of $510 million shows 19% growth
EMC generated operating cash flow of $1.24 billion and free cash flow of $958 million, a year-over-year increase of 16% and 36%. Has $10.9 billion in cash and investments on hand.
Revenue from EMC’s Information Storage business increased 7% year over year.
• Networked storage platform revenue grew 7% year over year.• Revenue from high-end Symmetrix portfolio increased 3%• Portfolio of mid-tier storage products increased 10%.
Second-quarter revenue from RSA Information Security business increased 13% year over year.
VMware revenue grew 22% year over year, but profits were down 13 percent.
EMC’s consolidated second-quarter revenue from the U.S. increased 14% year over year to $2.9 billion, representing 54% of consolidated second-quarter revenue.
• Consolidated revenues, a bit shy of analyst estimates, are expected to be $22.0 billion.• Consolidated GAAP net income attributable to EMC is expected to be $2.75 billion and consolidated non-GAAP net income attributable to EMC is expected to be $3.75 billion in 2012.• Consolidated net cash is expected to be $6.2 billion and free cash flow is expected to be $4.9 billion for 2012.