​VMware delivers solid Q1

VMware, unlike other tech vendors, didn't take a large hit from currency fluctuations.

VMware on Tuesday reported a solid first quarter as sales and earnings were better-than-expected.

The company reported first quarter earnings of $196 million, or 45 cents a share, on revenue of $1.51 billion, up 11 percent from a year ago. Non-GAAP earnings for the first quarter were 86 cents a share.

Wall Street was expecting non-GAAP earnings of 84 cents a share for the first quarter.

The company said license revenue for the quarter was $576 million, up 3 percent from a year ago. Maintenance revenue for the first quarter was $813 million, up 15.9 percent from $701 million a yea4r ago.

VMware ended the quarter with $7.23 billion in cash and equivalents.

In a statement, Pat Gelsinger, CEO of VMware, touted the company's launch of a unified hybrid cloud platform.

VMware, unlike other tech vendors, didn't take a large hit from currency fluctuations. VMware's revenue is evenly split between U.S. and international.

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