VMware beats 2Q earnings expectations

MarketsAssociated Press

VMware Inc. on Tuesday reported second-quarter earnings of $172 million.

The Palo Alto, California-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 93 cents per share.

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The results surpassed Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The cloud computing company posted revenue of $1.52 billion in the period. It reported adjusted revenue of $1.6 billion. Sixteen analysts surveyed by Zacks expected $1.59 billion.

VMware shares have risen nearly 1 percent since the beginning of the year.

Its shares were up 81 cents, or about 1 percent at $84 in extended trading following the release of the earnings report.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMW at http://www.zacks.com/ap/VMW

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Keywords: VMware, Earnings Report