EMC Reports Mixed Q4 Results, 2015 Guidance

EMC Corporation EMC on Thursday reported its fourth-quarter results. The company earned $0.69 per share, topping analyst expectations by one penny, while revenue of $7 billion fell short of expectations by $100 million. GAAP net income rose 12 percent from a year ago to $1.15 billion. Joe Tucci, Chairman and CEO, said, "EMC demonstrated solid performance in the fourth quarter and over the course of 2014. Our strategy is working well despite a challenging and rapidly changing IT environment. The company stands at the forefront of our industry with a leading portfolio of solutions and services to help customers optimize their existing infrastructures and build new ones that take advantage of opportunities created by cloud, mobile, social and Big Data. We enter 2015 financially strong and well positioned to continue capturing greater market share." EMC issued guidance and expects its full year fiscal 2015 revenue to be $26.1 billion (versus $24.4 billion in fiscal 2014), while earnings per weighted average diluted share is expected to be $1.27 (versus $1.32 in fiscal 2014). The company noted that its business outlook "reflects the negative impact of anticipated foreign currency fluctuations and the consolidation of VCE results."