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EMC climbs as clients move to the cloud

Joseph M. Tucci is EMC’s chief executive. Joseph M. Tucci is EMC’s chief executive. (Bloomberg News)
October 19, 2011

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EMC Corp., the world’s biggest maker of storage computers, reported a 28 percent gain in third- quarter earnings as corporate spending on Internet-based computing drove sales of data products and software from majority-owned VMware Inc. Net income rose to $605.6 million, or 27 cents a share, from $472.5 million, or 22 cents, a year earlier, the Hopkinton, Massachusetts-based company said today in a statement. Excluding some items, profit was 37 cents, beating the 36-cent average estimate of analysts surveyed by Bloomberg.

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