EMC announces first-quarter revenue

EMC, a provider of business data systems, software and services, has announced a record first-quarter consolidated revenue of $3.9bn (£2.5bn), an increase of 23 per cent compared with the same quarter in 2009.

First-quarter GAAP net income attributable to EMC increased 92 per cent year over year to $373m, while first-quarter GAAP diluted earnings per share were $0.17, up 70 per cent year over year.

Non-GAAP net income attributable to EMC for the first quarter was $550m, an increase of 70 per cent compared with the same quarter in 2009, while first-quarter non-GAAP earnings per diluted share were $0.26, a rise of 63 per cent year over year.

The company said that, during the first quarter of 2010, it expanded gross and operating margins on a year-over-year basis and achieved a record quarterly operating cash flow of $1.3bn and a record quarterly free cash flow of $1.1bn.