/>
X
Innovation

VMware posts solid third quarter, tops estimates

VMware's third quarter financial results were better than expected based on maintenance renewals and federal IT spending.The company reported net income of $38 million, or 9 cents a share, down from $83 million, or 21 cents a share a year ago.
Written by Larry Dignan, Contributor on

VMware's third quarter financial results were better than expected based on maintenance renewals and federal IT spending.

The company reported net income of $38 million, or 9 cents a share, down from $83 million, or 21 cents a share a year ago. Non-GAAP net income of $95 million, or 24 cents a share, flat with a year ago. Wall Street was expecting earnings of 20 cents a share. Revenue for the quarter was $490 million, up 4 percent from a year ago.

By the numbers:

  • U.S. revenue fell 1 percent in the third quarter to $246 million. International revenue was up 9 percent to $244 million.
  • Service revenue was up 33 percent from a year ago.
  • Cash and equivalents at the end of the quarter were $2.3 billion.
  • Deferred revenue was $990 million, up 27 percent from a year ago.

In a statement, VMware CEO Paul Maritz said the company was "well positioned to help take our customers on an evolutionary path forward." That pitch appears to be resonating, judging by attendees at the Gartner IT Symposium 2009. The hybrid private/public cloud computing approach is clearly winning the enterprise day. Here's a representative slide regarding the private/public cloud tug-of-war.

Editorial standards

Related

How much RAM does your Windows 11 PC need?
adobestock-339222220

How much RAM does your Windows 11 PC need?

What is ChatGPT and why does it matter? Here's what you need to know
chat bot

What is ChatGPT and why does it matter? Here's what you need to know

These are my 5 must-have devices for work travel now
ipad-mini-firewalla-purple-macbook-air

These are my 5 must-have devices for work travel now