The fog is finally starting to lift. That was the message from storage maker EMC as it reported second quarter earnings and for the first time this year offered guidance. Until now, EMC had declined to issue a formal outlook, saying the economic picture was too murky and tech spending remained unpredictable.
But in projecting full year earnings that beat analyst expectations, EMC signalled that the worst of the downturn was over for it, and perhaps the tech sector. “We now have better visibility and more confidence in the second half of 2009,” said chief financial officer David Goulden. Read more