EMC posts 61 percent jump in 4Q earnings

[January 25, 2011]  HOPKINTON, Mass. (AP) -- Data storage company EMC says its fourth-quarter earnings jumped 61 percent, boosted by the continued growth of technology spending.

The company says it earned $628.6 million, or 29 cents per share, in the last three months of 2010. That's up from $390.6 million, or 19 cents per share, in the same quarter a year ago.

Excluding special items, EMC says it earned 42 cents, edging out by a penny the consensus estimates of analysts surveyed by FactSet.

Revenue climbed 19 percent to $4.9 billion from $4.1 billion. Analysts expected $4.8 billion.

[Associated Press]

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