VMware beats Q3 earnings targets as revenue climbs 11 percent

The virtualization giant reported Q3 revenue of $1.98 billion, or $1.34 per share.

VMware delivered strong third quarter financial results Thursday that beat market expectations.

The virtualization giant reported a net income of $443 million, or $1.07 per share. Non-GAAP earnings were $1.34 per share on revenue of $1.98 billion, up 11 percent year over year.

Wall Street was looking for earnings of $1.27 per share with revenue of $1.96 billion.

VMware, a Dell Technologies portfolio company, said license revenue for the third quarter was $785 million, an increase of 14 percent from the year ago period. Operating cash flows came to $970 million, while free cash flows for the quarter were $911 million.

In a statement, VMware CEO Pat Gelsinger said the company was coming off of a strong VMworld season with a strong portfolio of products and services.

CFO Zane Rowe, added in a statement, ""Our results reflect continued strength across the portfolio and customers' commitment to VMware as a strategic partner for both on-premises and hybrid-cloud software solutions."

VMware will issue guidance for the current quarter on its conference call.


You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All