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VMware posts strong quarter, sees upside ahead

The company says second-quarter results indicate "the continued adoption of virtualization," and it projects a strong third quarter too.

VMware today reported second-quarter earnings of $220 million, or 51 cents a share, on revenue of $921 million, up 37 percent from a year ago. Non-GAAP earnings were 55 cents a share. Wall Street was looking for earnings of 47 cents a share on revenue of $873 million.

The company's second-quarter sales were almost evenly split between U.S. ($450 million) and international revenue ($471 million).

In a statement, VMware CEO Paul Maritz said the company's results indicate "the continued adoption of virtualization."

As for the outlook, VMware projected a strong third quarter. The company projected third-quarter revenue of $915 million to $940 million compared to estimates of $898 million. The company did say that non-GAAP operating margins would fall in the third quarter relative to the second.

For 2011, VMware projected that sales will be between $3.65 billion and $3.75 billion. Wall Street was looking for $3.68 billion.

This story was originally posted at ZDNet's Between the Lines.