HOPKINTON, Massachusetss ( TheStreet) -- EMC ( EMC), earned 37 cents a share on a non-GAAP basis in the third quarter, topping analysts' estimates, as demand for its storage products boosted revenue by 18%.
EMC earned $606 million, or 27 cents a share, in the third quarter on a GAAP basis, up 28% from $473 million, or 22 cents, a year earlier. Non-GAAP earnings were $822 million, up 27%. Revenue was $4.98 billion. Analysts surveyed by Thomson Reuters expected EMC to earn 36 cents a share on revenue of $4.9 billion. EMC said it remains "on track" to exceed its full-year goal of $19.8 billion in revenue, GAAP earnings of $1.07 a share and non-GAAP EPS of $1.48. For the year, analysts expect EMC to post profit of $1.48 a share on revenue of $19.85 billion. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.