AP NEWS

VMware: Fiscal 4Q Earnings Snapshot

February 27, 2020 GMT

PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal fourth-quarter profit of $321 million.

The Palo Alto, California-based company said it had net income of 76 cents per share. Earnings, adjusted for one-time gains and costs, were $2.05 per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.16 per share.

The cloud computing company posted revenue of $3.07 billion in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $2.95 billion.

For the year, the company reported profit of $6.41 billion, or $15.08 per share. Revenue was reported as $10.81 billion.

VMware shares have fallen 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $135.50, a fall of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMW at https://www.zacks.com/ap/VMW