EMC Corporation (NYSE:EMC) shares gaining significant returns


Dallas, Texas 08/08/2013 (Financialstrend) – Shares of EMC Corporation (NYSE:EMC) had recently been gaining significant returns primarily boosted up by the positive and higher level of earnings reported by the company for the second quarter of FY2013. The company had managed to perform better than its major competitors in the industry with an increase in earnings per share of 10% over the previous year, while Hewlett Packard had posted negative 32% decline in earnings and IBM had posted minimal 1% growth in earnings.

The revenue for the second quarter was reported to be at $5.61 billion compared to the analyst estimates at $5.31 billion and it was observed to have increased by 6% over the revenues reported for the same quarter of previous year. The developments made by the company in the unique technologies and independent partner ecosystems had paved way for this higher level of revenue generation and earnings for the quarter. EMC had further increased the financial guidance for the full fiscal year to $1.85 earnings per share and revenues of $23.5 billion.

EMC Corporation (NYSE:EMC) had gained by 0.23% on Wednesday to close the session with a price of $26.50 per share. The stock had been moving throughout the day with lowest price of $26.24 per share and highest price of $26.50 per share. The company’s 52 week low price is presently at $21.45 and 52 week high price is at $28.18 per share. There had been a trading volume of 12.60 million shares for the company on Wednesday and the average level of trading volume is at 17.96 million shares per day. The stock presently has 2.08 million shares in the market and the institutional holding is around 83% of the total capital. The market cap value of the company is at $55.14 billion.