VMware: Fiscal 2Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal second-quarter net income of $644 million.
The Palo Alto, California-based company said it had profit of $1.56 per share. Earnings, adjusted for one-time gains and costs, were $1.54 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The cloud computing company posted revenue of $2.17 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $2.15 billion.
VMware shares have increased 23 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $154.70, a rise of 54 percent in the last 12 months.