Apps & Software
VMware Doesn't Repeat Prior Disappointment (VMW, EMC)
Published:
Last Updated:
VMware Inc. (NYSE: VMW) decided not to make a repeat of last quarter’s earnings disappointments. The king of virtualization posted net income of $43 million on $438 million in revenues. Reported EPS was $0.11 net, but $0.22 from an operational EPS basis.
Second quarter 2008 revenues are expected to increase approximately 55% compared to the second quarter of 2007, which would translate to roughly $458.5 million; First Call has estimates of $422.3 million.
VMware said that it als "continues to expect" 2008 revenue growth of approximately 50% over 2007, which translates to $1.988 Billion; First Call has estimates at $1.99 Billion.
Diane Greene, CEO, sums it up easily, "….We are seeing customers progress more rapidly through the virtualization adoption path; many are now moving right into a VMware-based architecture…."
Shares have rallied 12% in after-hours to $65.00, which is partly helped by the 3.22 million shares (listed as 32% of the free float, although that may be wrong after lock-up and employee dilution). As a reminder, shares of the parent, EMC Corp. (NYSE: EMC), are set to report earnings tomorrow morning before the open.
Jon C. Ogg
April 22, 2008
Jon Ogg is a producer of and editor for both the Special Situations newsletter and the "10 Stocks Under $10" weekly newsletter for a673b.bigscoots-temp.com; he can be reached at [email protected] and he does not own securities in the companies he covers.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
