Feeds

EMC shares ride VMware madness

77 per cent profit boost

Internet Security Threat Report 2014

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
Intel, Cisco and co reveal PLANS to keep tabs on WORLD'S MACHINES
Connecting everything to everything... Er, good idea?
SDI wars: WTF is software defined infrastructure?
This time we play for ALL the marbles
'Urika': Cray unveils new 1,500-core big data crunching monster
6TB of DRAM, 38TB of SSD flash and 120TB of disk storage
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
Oracle hires former SAP exec for cloudy push
'We know Larry said cloud was gibberish, and insane, and idiotic, but...'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.