VMware Shares Rise On Strong Earnings, Stock Buyback

By Sue Chang Markets MarketWatch Pulse

Shares of VMware Inc. rose in Thursday's extended session after the virtualization software vendor posted strong earnings and announced a sizeable stock repurchase plan. VMware reported its fourth-quarter earnings rose to $441 million, or $1.04 a share, from $373 million, or 88 cents a share, a year ago. On an adjusted basis, VMware would have earned $1.43 a share. Revenue grew to $2.03 billion versus $1.87 billion. Analysts surveyed by FactSet had forecast the company to earn $1.39 a share. VMware also said it will buy back up $1.2 billion in Class A common shares. The stock rose 2.5% after hours.

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