EMC julkaisi tänään 3Q tuloksensa kuten myös sen 80% omistama osakkuusyhtiö VMWare. Pääpoiminnat:
- Record Q3 consolidated EMC revenue, up 9% year over year. consolidated revenue of $6 billion.
- Q3 GAAP EPS up 4% year over year; Q3 non-GAAP EPS up 10% year over year
- EMC Information Infrastructure, VMware and Pivotal Q3 revenue up 6%, 17% and 24% respectively year over year
- GAAP earnings per weighted average diluted share was $0.28
- EMC generated $1.7 billion in operating cash flow and $1.3 billion in free cash flow2 in the third quarter.
- EMC ended the quarter with $15.4 billion in cash and investments.
- The company repurchased approximately $375 million worth of its common stock in the third quarter and returned approximately $240 million to shareholders via a quarterly dividend.
- The hybrid cloud business grew over 80% on a year-over-year basis in the reported quarter. Currently, VMware is listed as one of only five mega providers in Gartner’s 2015 planning guide for cloud computing.
Toimarin (myös hallituksen PJ) kommentit: “EMC Information Infrastructure, VMware, Pivotal and RSA – are well positioned to capitalize on the massive IT market opportunity in front of us. From my conversations with customers, it’s clear that we have the right best-of-breed technologies in cloud, mobile, Big Data and security, and offer a level of choice and flexibility second-to-none. We are extremely well positioned to help customers maximize their existing IT platforms and build a 3rd IT platform to redefine their businesses with a whole generation of new applications”
Odotukset loppuvuoden osalta:
- Consolidated revenues are expected to be $24.5 billion for 2014.
- Consolidated GAAP operating income is expected to be 16.5% of revenues for 2014 and consolidated non-GAAP4 operating income is expected to be 24.0% of revenues for 2014.
- Consolidated GAAP earnings per weighted average diluted share are expected to be $1.29 for 2014 and consolidated non-GAAP4 earnings per weighted average diluted share are expected to be $1.90 for 2014.
- The consolidated GAAP income tax rate is expected to be 23.0% and the consolidated non-GAAP4 income tax rate is expected to be 23.5% for 2014. This assumes that the U.S. research and development tax credit is extended during 2014.
- Consolidated net cash provided by operating activities is expected to be $6.80 billion for 2014 and free cash flow2 is expected to be $5.35 billion for 2014.
- The weighted average outstanding diluted shares are expected to be 2.06 billion for 2014.
- EMC expects to repurchase an aggregate of $3.0 billion of the company’s common stock in 2014
Noilla ennusteilla laskettu PE-luku nykykurssilla 27.52 dollaria on 21 GAAP ja 14.5 Non-GAAP. Tuloksen jälkeen VMWaren kurssi on 6.5% miinuksella ja EMC:n kurssi on yli prosentin plussalla. Kasvupotentiaalia on paljon pilvipuolella ja on mahdollista että pitkässä juoksussa VMWare pullautetaan itsenäiseksi yhtiöksi ja fuusioidaan jonkun muun pilvifirman kanssa. Tämä voisi tuoda merkittävän kertanousun kurssiin. Ostan toisen erän EMC:tä jossain vaiheessa. Kohoava dollari aiheuttaa ongelmia EMC:lle: “A surge in the dollar is also hurting EMC, which gets 45 percent of its revenue from international markets”