EMC (EMC)

EMC Corp. said Thursday its profit fell 24 percent and sales dropped 5 percent in the latest quarter as corporations spent less on data storage. EMC's net income for the quarter ended Sept. 30 was $298.2 million, or 14 cents per share, versus $393.4 million, or 19 cents per share, in the year-ago period. Sales were $3.5 billion, down from $3.7 billion last year.
Results slightly beat Wall Street estimates; the storage leader said that its clients' budgets are getting better, and the company raised its 2009 guidance.

Oct 22 · 10:07:00 AM · Source: AP
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by Larry Etter