VMware tops Q2 earnings as revenue climbs 11 percent
#VMware reported second quarter earnings and revenue Monday after the bell. The virtualization giant reported a net income of $265 million, or 62 cents per share
Non-GAAP earnings were 97 cents per share on a revenue of $1.69 billion, up 11 percent year over year.
Wall Street was looking for earnings of 95 cents per share with revenue of $1.68 billion.
VMware finance chief Zane Rowe said the company is still on track with the $1.2 billion stock repurchase announced last quarter.
VMware’s share price has so far ticked up around 5 percent in after-hours trading. As for the current quarter, VMware will provide guidance during its conference call. Wall Street is looking for non-GAAP earnings of $1.05 per share with $1.72 billion in revenue.
The cloud software and services company is still gearing up for the proposed merger between its parent company #EMC and #Dell. In May, VMware CEO @PatGelsinger said VMware’s operations would remain largely unchanged while Dell and EMC worked through restructuring and integration efforts for the two companies.