By Maria Armental 
 

VMware Inc. expects revenue to increase by a mid-single digit percentage and return to a double-digit growth rate next year as economies around the world recover from the coronavirus pandemic.

The software company, which is majority-owned by Dell Technologies Inc., said it couldn't reinstate financial projections for the year, given uncertainty about the business impact of the pandemic. But company officials said they expected challenging second and third quarters and progression after that.

This quarter, the company expects about $1.44 a share in adjusted profit and about $2.8 billion in revenue, which would be roughly in line with Wall Street projections, according to FactSet.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

May 28, 2020 17:26 ET (21:26 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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