By Colin Kellaher

 

VMware Inc. on Wednesday said its fiscal first-quarter revenue and profit should top Wall Street's estimates amid better-than-expected subscription, SaaS and license revenue.

The Palo Alto, Calif., enterprise-software company said it expects to report an adjusted profit of $1.76 a share for the quarter on a 9.5% rise in revenue to $2.99 billion.

Analysts polled by FactSet, on average, are expecting adjusted earnings of $1.51 a share on revenue of about $2.91 billion.

VMware said it expects quarterly subscription, SaaS and license revenue to come in at around $1.39 billion, up 12.5% from a year earlier and ahead of the $1.32 billion analysts are expecting.

VMware said it plans to report its full first-quarter results after the bell on May 27.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

May 12, 2021 08:54 ET (12:54 GMT)

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