X
Business

VMware ups outlook amid strong demand

Virtualization software maker turns out a solid second quarter and announces it's raising its earnings outlook for the year.
Written by Larry Dignan, Contributor
VMware reported strong second quarter results and raised its revenue outlook as customers continue to use virtualization software to upgrade data centers.

The company on Tuesday reported net income of US$75 million, or 18 cents a share, in the second quarter (statement). Non-GAAP earnings were 34 cents a share. Revenue was US$674 million, up 48 percent from a year ago. Wall Street was looking for earnings of 32 cents a share on revenue of US$656.9 million.

Meanwhile, VMware raised its outlook for 2010 as the company continues to ride "="" class="c-regularLink" target="_blank" rel="noopener nofollow">an enterprise upgrade cycle. The company said third quarter revenue will be flat with the current quarter and in the range of US$680 million and US$705 million. Wall Street was looking for revenue of $672 million in the third quarter. For 2010, VMware projected revenue of US$2.72 billion and US$2.8 billion, ahead of Wall Street estimates of US$2.7 billion.

Read more of "VMware earnings: Strong second quarter, ups outlook amid strong demand" at ZDNet.com.

Editorial standards