It's business as usual for data storage giant EMC
Second-quarter earnings came in at $0.10 per diluted share on revenue of $3.26 billion. That's down from $0.17 per share and $3.67 billion in 2008, respectively, but an improvement over last quarter and good enough to send EMC's stock on a 4% skyward joyride today.
CEO Joe Tucci explained the solid performance as a focus on "four of the hottest and fastest-growing areas of IT spending -- next-generation fully virtualized data centers; cloud computing; virtualized desktops and clients; and next-generation backup, recovery and archive solutions." The big man sure hit a lot of buzzwords there, but he walks the talk too.
Majority-owned underling VMware
EMC's own storage-centric cloud computing services don't feel as substantial as the role it plays in other companies building their own clouds. There, the company brings the full force of its storage-market stature to bear, and is constantly up against the big boys -- storage giants like Hewlett Packard
So yeah, EMC does touch on a number of hot markets, whether by providing direct services, by selling hardware and software into standalone solutions, or through acquired hotshots with markets of their own, like VMware. There's nothing wrong with acquired growth if you can afford it -- but I'll always wonder what beautiful music Data Domain could have made together with NetApp.
EMC put the kibosh on that threat with derring-do and panache. It's back to business as usual for EMC -- and business is good.
Fool contributor Anders Bylund holds no position in any of the companies discussed here. You can check out Anders' holdings or a concise bio if you like, and The Motley Fool is investors writing for investors.