EMC leads the cloud with strong results

EMC’s chief executive (CEO) has claimed the company is now positioned to lead the way in cloud computing following strong results for the fourth quarter of 2009.

The company reported record revenues breaking the $4 billion (£2.4 billion) mark, which although only a two per cent rise from the same period last year, was a 17 per cent jump from the previous quarter and $100 million higher than the company’s expectations.

Joe Tucci, chairman and chief executive of the company, put the numbers down to what he called “aggressive investment in core technology” as well as well-thought out partnerships and operational discipline controlling its spending.

However, Tucci made it clear he was looking to the future with EMC as a driving force of new technologies.

“We are well positioned to lead the industry's newest and potentially largest wave of IT, which we and others refer to as cloud computing,” he said in a statement.

“As we execute on our vision for where the industry is heading, EMC's primary focus is on helping customers safely build out their next-generation, fully virtualised data centres and lead them along the journey to private cloud computing, which offers the promise of a dramatically more efficient and effective model for delivering IT as a service."

In addition to a rise in revenues, EMC also posted an impressive 43 per cent spike in net income, reaching $436.5 million for the last quarter.

The figures pleased the company’s chief financial officer, David Goulden, who said in a statement: "Emerging from the worst global recession in company history, EMC is in the best financial and operational shape ever.”

He added: “With this positive momentum, EMC stands well positioned to continue to gain share in key markets and drive even greater profitability in 2010."

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