VMware: Fiscal 1Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal first-quarter profit of $505 million.
On a per-share basis, the Palo Alto, California-based company said it had net income of $1.21. Earnings, adjusted for one-time gains and costs, were $1.32 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The cloud computing company posted revenue of $2.27 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $2.24 billion.
VMware expects full-year revenue of $10.03 billion.
VMware shares have risen 39% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $190.82, a rise of 38% in the last 12 months.