UPDATE: EMC Reports 32% Rise In Q4 Net Income

EMC Corp (NYSE: EMC) reported a rise in its fourth-quarter net income.

EMC's quarterly net income surged to $832 million, or $0.38 per share, from $628.6 million, or $0.29 per share, in the year-earlier period. Its adjusted net income came in at $0.49 per share. EMC's revenue rose to $5.57 billion from $4.89 billion. However, analysts were expecting earnings of $0.46 per share on revenue of $5.49 billion.

EMC projects 2012 revenue of $22 billion and adjusted profit of $1.70 per share, versus analysts' estimates of $22 billion in revenue and $1.71 per share in profit.

EMC shares gained 3.54% to $24.27 in pre-market trading.