VMware raises sights after strong third quarter

Summary:The virtualisation specialist has reported third-quarter earnings of $165m, citing strong demand in the cloud-computing sector

VMware delivered strong third-quarter earnings and revenue as demand for virtualisation continued unabated. The company also raised its outlook for the fourth quarter of 2010.

The company on Monday reported net income of $85m (£53.7m), or 20 cents a share. On a non-GAAP basis, VMware reported earnings of $165m, or 39 cents a share. Revenue for the third quarter was $714m, up 46 percent from a year ago.

Overall, VMware's quarter was strong across the board. In a statement, Mark Peek, the company's chief financial officer, said federal government spending was a stand-out. VMware chief executive Paul Maritz said that virtualisation was "a central technology in cloud computing".

For more on this ZDNet UK-selected story, see VMware ups fourth quarter outlook amid strong results on ZDNet.com.

Topics: Tech Industry

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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