VMWare beats Q3 expectations
VMWare reported third quarter financial results on Wednesday after the bell.
The virtualization giant reported non-GAAP net income of $485 million, or $1.14 per share -- up 12 percent year-over-year. Its revenue came to $1.78 billion, up 6 percent year-over-year.
Wall Street was looking for earnings of $1.10 per share with revenue of $1.76 billion.
"Our very good third-quarter financial results reflect VMware's strength in delivering strategic value to our customers," CEO Pat Gelsinger said in a statement. "We are helping customers run any application across their private, public and hybrid clouds with our new Cross-Cloud Architecture, the industry's most complete and capable hybrid cloud offering."
In its release, VMWare also touted the strategic partnerships it recently formed, including its deal with Amazon Web Services.
The company announced a transition to the Dell fiscal year beginning on February 4, 2017. Just last month, VMWare's parent company EMC completed its merger with Dell. The first quarter for fiscal 2018 will begin on February 4 and end on May 5, 2017.