VMware: Fiscal Q1 Earnings Snapshot
Posted May 27, 2021 4:29 pm.
Last Updated May 27, 2021 4:38 pm.
PALO ALTO, Calif. (AP) _ VMware Inc. (VMW) on Thursday reported fiscal first-quarter profit of $425 million.
The Palo Alto, California-based company said it had net income of $1.01 per share. Earnings, adjusted for one-time gains and costs, were $1.76 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The cloud computing company posted revenue of $2.99 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $2.96 billion.
VMware shares have risen 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $161, an increase of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMW at https://www.zacks.com/ap/VMW
The Associated Press
