VMware's third-quarter financial results were better than expected, based on maintenance renewals and federal IT spending.
The company reported net income of $38m (£23m), or $0.09 a share, down from $83m, or $0.21 a share, a year ago. Non-Gaap net income was $95m, or $0.24 a share, flat with a year ago. Wall Street had expected earnings of $0.20 a share. Revenue for the quarter was $490m, up four percent from a year ago.
By the numbers:
- US revenue fell one percent in the third quarter to $246m; international revenue was up nine percent to $244m
- Service revenue was up 33 percent from a year ago
- Cash and equivalents at the end of the quarter were $2.3bn
- Deferred revenue was $990m, up 27 percent from a year ago
For full story, see VMware posts solid third quarter, tops estimates on ZDNet.com.