UPDATE: EMC Posts 4.6% Rise In Q4 Profit, Issues Weak 2013 Forecast
EMC (NYSE: EMC) reported a 4.6% rise in its fourth-quarter income.
For 2013, EMC expects adjusted profit of $1.85 per share on revenue of $23.5 billion. However, analysts expected a profit of $1.90 per share on revenue of $23.57 billion.
EMC's quarterly profit surged to $869.9 million, or $0.39 per share, versus $832 million, or $0.38 per share, in the year-ago period. Excluding one-time items, it earned $0.54 per share.
Its revenue gained 8.2% to $6.03 billion. However, analysts were expecting earnings of $0.52 per share on revenue of $5.98 billion.
EMC shares fell 4.33% to $24.11 in pre-market trading.
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