EMC revenue up 35%

NEW YORK: EMC Corp., a supplier of data storage equipment and software, reported sharply higher quarterly profit and a 35 percent rise in revenue on Thursday on improved corporate technology spending.

In the Hopkinton, Massachusetts-based company's first quarter ended March 31, it posted a profit of $139.8 million, or 6 cents a share, compared with a year-earlier profit of $35.2 million, or 2 cents a share. Total consolidated revenue was $1.87 billion.

The results included a charge of 1 cent a share related to the company's acquisition earlier this year of VMWare.

Analysts' average estimates were for revenue of $1.82 billion and earnings of 6 cents a share, according to Reuters Research, a unit of Reuters Group Plc.

For the second quarter, EMC said it expects earnings of 8 cents a share on revenue of between $1.95 billion and $1.975 billion. Analysts were expecting 8 cents a share on revenue of $1.92 billion.

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