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VMware: Fiscal 3Q Earnings Snapshot

November 29, 2018

PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal third-quarter earnings of $334 million.

On a per-share basis, the Palo Alto, California-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, were $1.56 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The cloud computing company posted revenue of $2.2 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $2.17 billion.

VMware expects full-year earnings to be $6.22 per share, with revenue expected to be $8.88 billion.

VMware shares have climbed 29 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $161.38, a climb of 35 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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