VMware satisfies Q2 expectations, sales grow 10 percent

UPDATED: VMware's CFO reiterated a common sentiment in tech earnings over the last few quarters: results could have been slightly higher if it weren't for a stronger U.S. dollar.

VMware published second quarter financial results after the bell on Tuesday, satisfying analyst expectations albeit without much pomp and circumstance

The virtualization giant reported a net income of $172 million, or 40 cents per share (statement).

Non-GAAP earnings were 93 cents per share on a revenue of $1.60 billion, up 10 percent year-over-year.

Wall Street was looking for earnings of 91 cents per share with $1.59 billion in revenue.

VMware didn't break out too many specifics, except highlighting Q2 license revenues totaled $638 million up four percent annually.

On both this count and overall revenue, Jonathan Chadwick, who doubles as VMware's chief financial officer and chief operating officer, reiterated a common sentiment in tech earnings over the last few quarters.

Basically, these numbers would have been at least slightly higher in constant currency figures if it weren't for a stronger U.S. dollar.

For example, VMware insisted revenue would have been up by as much as 13 percent year-over-year -- instead of 10 percent -- while licensing revenues could have been up nine percent instead of four.

Nevertheless, VMware CEO Pat Gelsinger added in Tuesday's release that these results reflect "strong industry validation from industry analysts, partners and customers throughout the quarter."

For the current quarter, Wall Street is looking for non-GAAP earnings of $1.00 per share with $1.66 billion in revenue.

UPDATE: During the shareholders conference call on Tuesday, VMware responded with a Q3 revenue guidance range of $1.645 billion to $1.665 billion, up nine to 10 percent year-over-year, and earnings between 98 cents and $1.00 per share.