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VMware: Fiscal 2Q Earnings Snapshot

August 23, 2018

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMW at https://www.zacks.com/ap/VMW

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