Syindication
VMWare Brings Toil and Trouble to EMC
Wed, 01/30/2008 - 00:06
The share price of EMC fell sharply on Tuesday, dropping 7% despite beating analyst predictions for Q4 earnings. The market was reacting to news that virtualization vendor VMware, which is 86% owned by EMC and has hitherto been a star performer, is enduring serious competitive pressures.
EMC's fourth-quarter profits were up by one third over Q4 2006, and revenues jumped almost 20% over the same period to $3.83bn. This growth came largely from the software side of the business, which grew 20%, although the company also saw strong growth from its storage business. Meanwhile EMC's professional services wing, a relatively minor division of the company, saw a stunning 27% increase in business.
EMC, which makes the Documentum Enterprise CMS, also released an initial financial forecast for 2008, showing an expected revenue growth of 13% to around $15bn.
The share price of EMC fell sharply on Tuesday, dropping 7% despite beating analyst predictions for Q4 earnings. The market was reacting to news that virtualization vendor VMware, which is 86% owned by EMC and has hitherto been a star performer, is enduring serious competitive pressures.
EMC's fourth-quarter profits were up by one third over Q4 2006, and revenues jumped almost 20% over the same period to $3.83bn. This growth came largely from the software side of the business, which grew 20%, although the company also saw strong growth from its storage business. Meanwhile EMC's professional services wing, a relatively minor division of the company, saw a stunning 27% increase in business.
EMC, which makes the Documentum Enterprise CMS, also released an initial financial forecast for 2008, showing an expected revenue growth of 13% to around $15bn.
You have already tagged this post. Your tags:
Similar entries
- IBM Melds Enterprise CMS with Social Software
- CMS Market Jitters? Vignette Lowers Expectations
- Alfresco Flying High - The Power of Open Source
- EMC Documentum Releases v6.5 Full of Web 2.0
- TERMINALFOUR Beefs Up Exec Staff, Plans Growth
- EMCs New XML-Based Store and Delivery Service
- Alfresco Garners Accolades from Business Computing Magazine
- Documentum's Future: A Concise Summary
- CYA Technologies To Save Your Corrupted ECM
- Putting a $14 Million SpringCM in their Step
