EMC revenue drops 2% to $5.5 bn and $268 mn net income

EMC Corporation said its revenue fell 2 percent to $5.5 billion, while net income was $268 million in the first quarter of 2016.

EMC CEO Joe Tucci said: “We had a solid first quarter, generally in-line with our expectations when adjusted for an excess of unfulfilled orders at the end of the quarter.”

“Integration with Dell has accelerated to ensure we begin at full speed upon closing, the leadership team has been established, and we’ve received the vast majority of anti-trust approvals required. We expect the transaction to happen on the original terms and within the originally announced timeframe,” Tucci said.

EMC Information Infrastructure business revenue fell 6 percent. EMC significantly expanded its all- flash storage portfolio with the introduction of VMAX All Flash and the DSSD Rack-Scale Flash solution. EMC introduced a new Hyper-Converged VCE VxRail Appliance family in the first quarter, complemented by reseller agreements with Dell.

VMware revenue rose 5 percent.

Pivotal revenue grew 56 percent. Pivotal achieved over 200 percent growth in its cloud and big data subscription software revenue.

EMC said revenue from North America fell 3 percent, Europe, Middle East and Africa region dipped 1 percent, Latin America dropped 14 percent, while Asia Pacific and Japan revenue rose 2 percent year over year.