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Technology Stocks : VMware, Inc. (VMW)
VMW 136.23-8.0%10:35 AM EDT

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From: Glenn Petersen8/24/2018 11:54:05 AM
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The second quarter press release: sec.gov

VMware shares slide despite strong Q2 results

The company reported Q2 revenue of $2.17 billion, uppercent year over year.

By Natalie Gagliordi for Between the Lines |
ZDNet
August 23, 2018 -- 20:32 GMT (13:32 PDT)

VMware released second quarter financial results after the bell on Thursday, beating market estimates. The virtualization giant reported a net income of $644 million, or $1.56 per share. The income includes a gain of $231 million from VMware's investment in Pivotal Software, the company said.

Non-GAAP earnings were $1.54 per share on a revenue of $2.17 billion, up 13 percent year over year. Wall Street was looking for earnings of $1.49 per share with revenue of $2.14 billion.

VMware's license revenue came to $900 million, an increase of 19 percent year over year. Services revenue was $1.2 billion.

In statement, CFO Zane Rowe said the quarter was driven by "strong operational performance across the business. Product license bookings grew double-digits year-over-year in all major product categories."

In terms of guidance, analysts expect VMware to report Q3 earnings of $1.49 per share on revenue of $2.16 billion. Shares of VMware were down almost four percent after hours.

zdnet.com
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