EMC reports record fourth quarter sales and profit

EMC has become the latest major technology firm to report record fourth-quarter results.

EMC has become the latest major technology firm to report record fourth-quarter results.

The storage and software giant reported revenue of $4.9bn, up 19% on the same quarter in 2009, with net income of $629m, an increase of 61% year on year. Both figures were a company record for the fourth quarter.

EMC said that the highlights of the results were a 19% growth in its high-end Symmetrix storage product range, plus strong revenue growth at subsidiary RSA and at VMware, where EMC is majority owner.

EMC chief executive Joe Tucci said the firm was benefiting from the current trends in the IT market.

"EMC's performance in 2010 was the best in company history, marked by rapid growth, market share gains, financial leverage and significant investment in technology innovation," he said.

"The platform for change in the IT industry has arrived with the biggest opportunity residing at the intersection of trusted cloud computing, enterprise data and 'big data'."

IBM, Apple and Intel have all reported record revenues in their fourth quarter results.

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