VMware: Fiscal 3Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Tuesday reported fiscal third-quarter profit of $434 million.
On a per-share basis, the Palo Alto, California-based company said it had net income of $1.02. Earnings, adjusted for one-time gains and costs, came to $1.66 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.43 per share.
The cloud computing company posted revenue of $2.86 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $2.81 billion.
VMware expects full-year earnings to be $7.03 per share, with revenue expected to be $11.7 billion.
VMware shares have decreased almost 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $150.51, a fall of 11% in the last 12 months.