EMC Corporation (NYSE:EMC) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5%.
EMC Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.69% to $0.42 in the quarter versus EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 5.7% to $5.61 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: EMC Corporation reported adjusted EPS income of $0.42 per share. By that measure, the company met the mean analyst estimate of $0.42. It beat the average revenue estimate of $5.6 billion.
Quoting Management: Joe Tucci, EMC Chairman and Chief Executive Officer, said, “The strength and demand we saw during the quarter, despite a cautious IT spending environment, speaks to the soundness of our strategy, the value customers see in our federated business model, and the massive opportunity ahead in cloud computing, Big Data and trusted IT. EMC Information Infrastructure, VMware and Pivotal are positioned on the leading edge of these significant trends. Each business is focused on building its own unique technologies and independent partner ecosystems to offer customers greater choice. Collectively they add up to a very competitive technology stack that not only addresses our customers’ top IT needs in 2013, but also their longer-term business transformation priorities.”
Key Stats (on next page)…
Revenue increased 4.21% from $5.39 billion in the previous quarter. EPS increased 7.69% from $0.39 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.45 to a profit $0.46. For the current year, the average estimate is a profit of $1.86, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)