VMware Earnings: Here’s Why Investors Don’t Like These Results
VMware, Inc. (NYSE:VMW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.27%.
VMware, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.12% to $0.74 in the quarter versus EPS of $0.66 in the year-earlier quarter.
Revenue: Rose 12.87% to $1.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: VMware, Inc. reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.70. It beat the average revenue estimate of $1.18 billion.
Quoting Management: “We’re very pleased with our performance this quarter, particularly in light of recent results from many of our industry peers,” said Pat Gelsinger, chief executive officer, VMware. “VMware is the virtualization software infrastructure leader and the company most capable of providing an end-to-end infrastructure solution designed to bridge our customers’ legacy client/server applications and desktops to next-generation applications for the mobile/cloud era. We continue to execute against our strategy, and our position in the market is clear as we embark on this multi-year journey with our customers.”
Key Stats (on next page)…