EMC released is second quarter results for 2012 today, which showed 10% growth in consolidated revenue to bring in US$5.31bn, with a net income of US$650m – 19% up on 2011’s results.

The figures took into account the earnings from EMC-owned VMware and security company RSA.

Q2 was a quarter that broke records for financial performance, according to CEO and Chairman Joe Tucci, who attributed the company’s success to the rising uptake of cloud computing and challenges being seen with Big Data as well as the success of RSA and VMware.

“We are seeing a transformation in the IT industry unlike anything we have seen before,” Tucci said.

“Organizations are moving quickly to adopt cloud computing and take advantage of both the efficiency and agility that comes with running IT-as-a-Service.

“Customers are also looking to deploy a new generation of Big Data applications to gain competitive advantage and differentiate their business.”

EMC said it has built its modern business based around these requirements and as a result has seen revenue for its Information Storage business crow 7% year-over-year.

It said VMware has shown a 22% year-over-year increase with consolidated GAAP net income for EMC expected to be about US$2.75bn for the year of 2012 – which does not take into account stock-based compensation expenses, intangible asset amortization, restructuring and acquisition–related charges.

EMC also benefits from RSA Information Security’s revenue grow of 13% year-over-year for Q2.

In the US alone, EMC saw consolidated revenue rise 14% year over year to US$2.9bn.

EMC President and COO David Goulden said the company looks set to meet its 2012 yearly deliverables promised, with predicted consolidated revenues expected to be US$22bn. It expects to use some of this to repurchase US$700m in common stock during the year.

“Looking ahead, we remain on track to deliver our ‘triple play’ - simultaneously taking market share, reinvesting for growth and delivering improved earnings – and are well positioned for our next major phase of growth,” Goulden said.