(Source: Associated Press/AP Online)
HOPKINTON, Mass. - EMC Corp. says profit fell 24 percent and sales fell 5 percent in the third quarter as corporations spent less on data storage.
The company says its clients' budgets are getting better, though, which is another sign that information technology spending is slowly recovering.
Tech bellwethers like Intel and IBM have also pointed to signs of stabilization.
Hopkinton, Mass.-based EMC's results topped Wall Street's forecasts, and the company's guidance was also ahead of estimates.
Net income was $298.2 million, or 14 cents per share, versus $393.4 million, or 19 cents per share, in the year-ago period.
Sales were $3.5 billion, down from $3.7 billion.
A service of YellowBrix, Inc.
