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EMC sees storage grow despite economic climate

EMC has reported third-quarter 2009 consolidated revenue of $3.52 billion, exceeding the previous company outlook of 4% to 5% sequential revenue growth. However third-quarter consolidated revenue declined 5%, compared with the same period the year before.

EMC has reported third-quarter 2009 consolidated revenue of $3.52 billion, exceeding the previous company outlook of 4% to 5% sequential revenue growth. However third-quarter consolidated revenue declined 5%, compared with the same period the year before.

Joe Tucci, EMC chairman and CEO, said: "We have made progress optimising our cost structure, expanding our product portfolio, strengthening our partner ecosystem and positioning EMC to capitalise on four of the higher-growth, multi-billion dollar market opportunities around fully virtualised datacentres, cloud computing, virtualised desktops and clients, and next-generation back-up and recovery."

Tucci said IT departments were now comfort spending their IT budgets. "We are strategically aligned with the major technology shifts and well positioned to play a pivotal role in the IT industry for the next decade." The company's VMWare virtualisation division contributed $489m to the company's earnings.

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