VMware turns in a solid quarter
Company gets boost from momentum in virtualization, reporting a 37 percent increase in revenue in the fourth quarter.
As virtualization and cloud-computing trends continue to see growth, VMWare has also seen growth.
For its fourth quarter, VMWare reported net income of $198 million, or 46 cents per share, up from 31 cents in the same quarter a year ago. Revenue was $836 million, a 37 percent increase. Wall Street had been expecting earnings of 44 cents per share on revenue of $803.8 million. (Statement)
In a statement, President and CEO Paul Maritz said:
VMware clearly benefited in the fourth quarter from both an uptick in spending and the momentum of virtualization as the central technology for modernizing infrastructures. Our task remains to help our customers evolve to the enterprise hybrid cloud by delivering solutions that increase efficiency while improving business agility.
Read more of "VMWare earnings: A solid quarter, year as virtualization momentum continues" at ZDNet's Between the Lines.