VMware raises sights after strong third quarter

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

TOPICS: Tech Industry

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.

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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.

Topic: Tech Industry

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