VMware posts solid Q1 results

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VMware published its first quarter fiscal 2019 results on Thursday, beating market expectations.

The hybrid cloud and virtualization giant posted a non-GAAP net income of $516 million, or $1.26 per diluted share, up 18 percent year-over-year. Revenue for the quarter was $2.01 billion, an increase of 14 percent from the first quarter of fiscal 2018.

Read also: Microsoft, VMware, Dell team up on IoT offering

Wall Street was looking for earnings of $1.14 per share on revenue of $1.96 billion.

VMware's license revenue came to $774 million, an increase of 21 percent year-over-year.

In statement, CEO Pat Gelsinger said VMware's results are "driven by broad-based strength across our diverse product and services portfolio and in all three geographies."

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