Storage vendor EMC has reported third quarter results showing revenue up eight per cent from the last quarter at $3.52bn (£2.2bn), but down five per cent year on year.
Although revenue results exceeded the previous outlook of four to five per cent revenue growth, profits were down 24 per cent year-on-year to $298m (£182m), but up 45 per cent on the previous quarter.
EMC chief executive Joe Tucci said: "EMC is well positioned to capitalise on four of the higher-growth, multi-billion-dollar market opportunities around fully virtualised datacentres, cloud computing, virtualised desktops and clients, as well as next-generation backup and recovery."
EMC's financial predictions for next year see revenue of $4bn (£2.5bn), and cost savings of $500m (£306m) compared with 2008.
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