EMC Pre-announces Profit, Sales Below Expectations As Part Of Dell Buyout Announcement

EMC Corp. pre-announced third-quarter earnings and sales, as part of its announcement of a deal to be acquired by Dell Inc. in a deal valued at $67 billion. EMC said it expects adjusted earnings per share, which excludes non-recurring items, of 43 cents, missing the FactSet consensus of 45 cents. Revenue is expected to be $6.05 billion to $6.08 billion, below the FactSet consensus of $6.24 billion. Separately, VMware Inc. , the publicly-traded cloud infrastructure arm of EMC, said it expects third-quarter adjusted EPS of $1.02 a share and revenue of $1.67 billion, both above the FactSet consensus for EPS of 99 cents and revenue of $1.65 billion. EMC's stock climbed 4.2% in premarket trade, while VMware share were unchanged.