Feeds

EMC shares ride VMware madness

77 per cent profit boost

Next gen security for virtualised datacentres

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. ®

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
The Return of BSOD: Does ANYONE trust Microsoft patches?
Sysadmins, you're either fighting fires or seen as incompetents now
Microsoft: Azure isn't ready for biz-critical apps … yet
Microsoft will move its own IT to the cloud to avoid $200m server bill
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
Cutting cancer rates: Data, models and a happy ending?
How surgery might be making cancer prognoses worse
Silicon Valley jolted by magnitude 6.1 quake – its biggest in 25 years
Did the earth move for you at VMworld – oh, OK. It just did. A lot
Forrester says it's time to give up on physical storage arrays
The physical/virtual storage tipping point may just have arrived
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?