based EMC said Thursday its net income for the July September period was . million or cents per share compared with a profit of . million or cents per share in last year s third quarter. Revenue rose percent to . billion a year ago exceeding the consensus estimate of analysts surveyed by Thomson Financial who expected revenue of . Shares rose percent or cents to . at the open of trading. EMC recorded a one time gain of . Excluding that gain EMC s profit was . million or cents per share matching analysts per share profit expectations. EMC said it will increase the amount of a stock buyback program from billion to billion. So far this year EMC has bought million EMC shares returning . EMC spun off a percent stake and remains the majority owner. and Network Appliance Inc. Revenue from professional services and systems maintenance a smaller business segment than the other two grew by percent. Analysts expect a profit of cents per share on revenue of . EM! C s stock had been stagnant in recent years. EMC which acquired VMware in now owns percent of the software maker after the August IPO. bought small pieces of VMware which already is one of the five top valued software companies worldwide. Miami Herald Media Company.
Source: http://www.miamiherald.com/business/AP/v-print/story/283875.html
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