Feeds

EMC shares ride VMware madness

77 per cent profit boost

Combat fraud and increase customer satisfaction

EMC saw its stock price leap more than eight per cent today, thanks in part to its 86 per cent stake in the hotter-than-hot virtualization outfit, VMware.

This morning, the storage behemoth announced third quarter profits of $492.9m, a 77 per cent increase from the same quarter last year, and by 2:37 eastern standard time, its share price had jumped 8.61 per cent to $24.47.

EMC sales topped $3.3bn during the quarter ending September 30, a 17 per cent increase from the same quarter last year, but profits were also boosted by the frenzy surrounding VMware. The server-slicing company pumped its own profits 90 per cent in Q3, after an August IPO pulled in $1.1bn.

"Among the many standouts during the quarter was VMware’s quarterly performance and the completion of the initial public offering of approximately 10 per cent of VMware," said Joe Tucci, EMC chairman, president, and chief executive officer. "VMware is not only one of the fastest-growing businesses in the history of the software industry, but it has also created an entire IT category based on one of the very few game-changing technologies out there today."

Meanwhile, VMware's share price jumped 10.55 per cent today, to $114.36.

Bootnote

The day wasn't quite so rosy for another storage vendor. A day after it announced a 60 per cent quarterly profit drop, Symantec saw its share prices dip 13.18 per cent. ®

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
prev story

Whitepapers

SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.