Sales gains in the U.S. lagged behind the rest of the world, with revenue growing 7 percent year-over-year in the U.S. compared with 19 percent for areas outside. The company got 46 percent of its revenue from outside the U.S. Revenue increased 20 percent in Europe, the Middle East and Africa, 19 percent in Asia-Pacific and Japan, and 27 percent in Latin America, EMC said.
For the fourth quarter, EMC forecast total revenue of $4 billion and earnings per share between $0.23 and $0.24, both of which would represent gains over last year's fourth quarter. The company estimated non-GAAP earnings at $0.30 or $0.31.
"Even with a challenging economic environment ahead, we remain confident and well positioned to compete effectively, continue winning business and outpace our peers in the marketplace," Tucci said in a prepared statement.
In the last three weeks of September, EMC saw a slowdown among some customers, which Tucci attributed to caution caused by the stock meltdown and the weak credit market. Some large enterprises postponed purchases, and some financial services companies held off on their spending amid a wave of consolidation, he said. On a worldwide basis, sales to financial services companies actually grew modestly in the third quarter, though not for Wall Street investment banks. Commercial customers and small and medium-sized businesses also became cautious, Tucci said.
However, Tucci said he believes the continuing growth of data within enterprises will insulate storage, as well as virtualization and compliance, from an overall slump in IT spending.