UPDATE 1-EMC's 2013 EPS outlook misses Street
Jan 29 (Reuters) - Data storage equipment maker EMC Corp's 2013 earnings outlook missed estimated but it reported higher-than-expected fourth-quarter earnings and revenue due to strong demand for cloud computing.
EMC said on Tuesday that earnings per share will be $1.85 this year on revenue of $23.5 billion.
Analysts forecast $1.90 per share for 2013 and revenue of $23.57 billion, according to Thomson Reuters I/B/E/S.
EMC said net income in the fourth quarter was $1.2 billion, or 54 cents a share, compared with analysts' estimates of 52 cents.
Revenue was $6 billion, up 8 percent. Analysts had expected $5.98 billion.
ISI Group analyst Brian Marshall said the quarter looked solid while the outlook appeared to be "a bit light."
EMC is benefiting from growing demand for so-called cloud computing - the delivery of computing power, software and storage from centralized data centers that run on technologies introduced over the past few years.