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VMware: Fiscal 2Q Earnings Snapshot

August 27, 2020 GMT

PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal second-quarter profit of $447 million.

The Palo Alto, California-based company said it had profit of $1.06 per share. Earnings, adjusted for one-time gains and costs, were $1.81 per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.

The cloud computing company posted revenue of $2.88 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $2.8 billion.

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VMware shares have fallen almost 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $142.89, a rise of nearly 8% 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