EMC Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component EMC Corp (NYSE:EMC) will unveil its latest earnings on Wednesday, July 20, 2011. EMC Corporation and its subsidiaries deliver and support a range of information infrastructure technologies and solutions.

EMC Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 27 cents per share, a rise of 17.4% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged and it has not changed during the last month. For the year, analysts are projecting profit of $1.21 per share, a rise of 16.3% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported net income of 24 cents per share versus a mean estimate of profit of 25 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by one cent.

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Wall St. Revenue Expectations: On average, analysts predict $4.73 billion in revenue this quarter, a rise of 17.7% from the year ago quarter. Analysts are forecasting total revenue of $19.85 billion for the year, a rise of 16.6% from last year’s revenue of $17.02 billion.

Analyst Ratings: Analysts are bullish on this stock with 31 analysts rating it as a buy, none rating it as a sell and seven rating it as a hold.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 20.2%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 23.5% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 28% while it rose 60.9% in the fourth quarter of the last fiscal year and 58.5% in the third quarter of the last fiscal year.

Competitors to Watch: NetApp Inc. (NASDAQ:NTAP), Dot Hill Systems Corp. (NASDAQ:HILL), Western Digital Corp. (NYSE:WDC), Quantum Corporation (NYSE:QTM), Overland Storage, Inc. (NASDAQ:OVRL), Hewlett-Packard Company (NYSE:HPQ), Xyratex Ltd. (NASDAQ:XRTX), ADPT Corporation (ADPT), Intl. Business Machines Corp. (NYSE:IBM), and Brocade Communications Systems, Inc. (NASDAQ:BRCD).

Stock Price Performance: During July 8, 2011 to July 14, 2011, the stock price had dropped $1.05 (-3.8%) from $27.87 to $26.82. The stock price saw one of its best stretches over the last year between January 28, 2011 and February 10, 2011 when shares rose for 10-straight days, rising 11.1% (+$2.71) over that span. It saw one of its worst periods between June 2, 2011 and June 13, 2011 when shares fell for eight-straight days, falling 7.4% (-$2.10) over that span. Shares are up $3.92 (+17.1%) year to date.

(Source: Xignite Financials)

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