EMC once again managed to eat savagely into competitors’ market share. EMC has announced revenues of $1bn in its third quarter – a 36.8% increase. With the gross margin fattening from 46.6% to 52.3%, net income surged ahead by 51.5% to $536.9m. Star performer in the third quarter was data storage software products whose sales rose 136% to $117.5m and is on course to meet its target of $400m for the year. EMC president and CEO Michael Ruettgers insists that few companies in the IT sector are as well positioned for the year ahead as EMC and the market shared his confidence, pushing the shares up 7.35% to $62.
