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VMware Post Third-Quarter Earnings Beat, Raises Guidance

VMware Post Third-Quarter Earnings Beat, Raises Guidance

 VMware  (VMW) – Get Report the cloud-computing major controlled by Dell Technologies  (DELL) – Get Report, reported better-than-expected third-quarter earnings Tuesday and raised its full year guidance.

VMware reported net income of $704 million, or $1.66 per share, up from $602 million, or $1.42 per share a year ago. FactSet’s consensus called for earnings of $1.44 per share.

Revenue totaled $2.86 billion, up 8% a year ago and surpassing FactSet’s consensus of $2.81 billion.

The combination of subscription and Software as a Service (SaaS) and license revenue came to $1.32 billion, an increase of 10% from a year ago. Subscription and SaaS revenue was $676 million, the company said, an increase of 44% year-over-year, representing 24% of total revenue.

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Christine Watkins

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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