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VMware: Fiscal 1Q Earnings Snapshot

May 28, 2020 GMT

PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal first-quarter net income of $386 million.

On a per-share basis, the Palo Alto, California-based company said it had profit of 92 cents. Earnings, adjusted for one-time gains and costs, were $1.52 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The cloud computing company posted revenue of $2.73 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $2.65 billion.

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VMware shares have declined 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $142.44, a decrease of 26% 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