VMware Shares Slide Following First-quarter Earnings Release

By Sue ChangMarketsMarketWatch 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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