VMware: Fiscal 1Q Earnings Snapshot
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.
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.