EMC profit rises on overseas growth
BOSTON (Reuters) - EMC Corp (EMC.N), the world's biggest maker of corporate storage equipment, posted higher quarterly profit on Wednesday as international sales grew 27 percent and U.S. sales rose 10 percent.
EMC shares rose 6 percent in premarket trading after it released the results, which included higher-than-expected revenue for the quarter.
Net income rose 13 percent to $377.5 million, or 18 cents per share, from $334.4 million, or 16 cents a share, a year earlier.
Profit excluding special items rose to 24 cents per share from 20 cents.
Revenue climbed 18 percent to $3.67 billion.
Analysts had expected the company to post profit excluding items of 17 cents per share on revenue of $3.56 billion, according to Reuters Estimates.
The company also said it expects to report full-year profit excluding items of 78 cents per share on revenue of more than $15 billion in 2008.
Analysts expect the company to post full-year profit of 78 cents on revenue of $14.97 billion, according to Reuters Estimates.
EMC shares rose to $13.25 in premarket trade, up from Tuesday's close of $12.46 on the New York Stock Exchange.
(Reporting by Jim Finkle; Editing by Lisa Von Ahn and Gerald E. McCormick)
