VMware 1Q Results Miss Estimates as Subscription, SaaS Revenue Surge
June 01 2023 - 5:01PM
Dow Jones News
By Denny Jacob
VMware posted net income and revenue slightly below analysts'
estimates but posted sharp increases in other key metrics.
The software maker logged net income of $224 million, or 52
cents a share, for the first quarter ended May 5, compared to $242
million, or 57 cents a share, a year earlier. Adjusted earnings
were $1.49 a share, below analysts' estimates of $1.55 a share.
Revenue rose to $3.28 billion from $3.09 billion. Analysts
polled by FactSet expected $3.31 billion.
Remaining performance obligations, which measures the amount of
the transaction price still in contract to be completed, for the
quarter totaled $13.01 billion, up 13% from a year earlier.
Subscription and software-as-a-service revenue, a key industry
metric, increased 35% over the last year to $1.22 billion in the
quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
June 01, 2023 16:46 ET (20:46 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Vmware (NYSE:VMW)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vmware (NYSE:VMW)
Historical Stock Chart
From Sep 2023 to Sep 2024