EMC Corporation Misses On Q4 Earnings And Revenues

Headquartered in Hopkinton, Massachusetts, EMC Corporation (EMC – Analyst Report) offers storage and security solutions for every layer of IT architecture. The company’s evolving product portfolio is focused on providing the infrastructure for Cloud Computing and Big Data.

EMC Corp had earlier announced that it isbeing taken over by Dell Inc and private equity firm Silver Lake in a $67 billion deal. EMC shareholders will receive $24.05 per share in cash along with tracking stock related to a portion of EMC’s economic interest in VMware. VMware will continue to be a publicly traded company.

Zacks Rank: Currently, EMC has a Zacks Rank#4 (Sell) but that could change following its fourth quarter 2015 earnings report which has just released.

We have highlighted some of the key details from the just-released announcement below:

Earnings: EMC reported adjusted earnings (including stock-based compensation expense but excluding other items) of 54 cents, missing the Zacks Consensus Estimate of 55 cents. Earnings also declined 8.5% year over year.

Revenue:Revenues of $7,014 million also lagged the Zacks Consensus Estimate of $7,093 million and declined 0.5% year over year.

Key Stats:Non GAAP operating margin of the company decreased of 370 basis points to 25.2%.

Stock Price: Shares prices are down 2.06%% in the pre-market trading session.