EMC Earnings: Fifth Quarter of Double Digit Profit GROWTH

S&P 500 (NYSE:SPY) component EMC Corporation (NYSE:EMC) reported its results for the second quarter. EMC and its subsidiaries deliver and support a range of information infrastructure technologies and solutions.

Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?

EMC Corporation Earnings Cheat Sheet

Results: Net income for EMC Corporation rose to $649.5 million (29 cents per share) vs. $546.5 million (24 cents per share) in the same quarter a year earlier. This marks a rise of 18.9% from the year-earlier quarter.

Revenue: Rose 9.6% to $5.31 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: EMC Corporation reported adjusted net income of 31 cents per share. By that measure, the company fell short of mean estimate of 33 cents per share. Analysts were expecting revenue of $5.29 billion.

Quoting Management: David Goulden, EMC President and Chief Operating Officer, said, “The business we have built is at the intersection of three of the most transformative waves in the history of IT – cloud computing, Big Data and trust. We have grown EMC profitably, expanded our portfolio of products and services into new markets, and established our reputation for quality and providing customers with the very best total experience in the industry. Looking ahead, we remain on track to deliver our ‘triple play’ – simultaneously taking market share, reinvesting for growth and delivering improved earnings – and are well positioned for our next major phase of growth.”

Key Stats:

The company has now seen its net income rise for three quarters in a row. In the first quarter, net income rose 23% and in the fourth quarter of the last fiscal year, the figure rose 32.4%.

Revenue has risen for the last four quarters. Revenue increased 10.6% to $5.09 billion in the first quarter. The figure rose 14% in the fourth quarter of the last fiscal year from the year earlier and climbed 18.2% in the third quarter of the last fiscal year from the year-ago quarter.

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the first quarter, it topped the mark by 2 cents, and in the fourth quarter of the last fiscal year, it was ahead by 2 cents.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next-quarter performance. The average estimate for the third quarter is now 35 cents per share, down from 36 cents. Over the past sixty days, the average estimate for the fiscal year has reached $1.44 per share, a decline from $1.45.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Hot Additional Stories:

The Dow is NOT Lovin’ McDonald’s Right Now>>

SILVER: A Metal of Sunken Treasure and Champions>>

Will New Apple Products PUMP UP Shares?