VMware Shares Slide Following First-quarter Earnings Release

By Sue Chang Markets MarketWatch Pulse

Shares of VMware Inc. fell in Thursday's extended session after the virtualization software vendor released its quarterly results. VMware reported its first-quarter earnings rose to $232 million, or 56 cents a share, from $161 million, or 38 cents a share, a year ago. On an adjusted basis, VMware would have earned 99 cents a share. Revenue grew 9% to $1.74 billion. Analysts surveyed by FactSet had forecast the company to earn 95 cents a share on revenue of $1.71 billion. The company also said it adjusted its fiscal calendar to begin on Feb. 4 and end on Feb. 2, 2018. "The period from Jan. 1, 2017 through Feb. 3, 2017 has been recorded as a transition period and will be reported as a separate period in VMware's Form 10-Q filing," said VMware in a statement. The stock dropped 4.1% after hours.

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