Wednesday, April 20, 2016

VMware Posts Q1 Revenue of $1.59 Billion, Announces Stock Repurchase

VMware posted Q1 revenue of $1.59 billion, an increase of 5% from the first quarter of 2015, or up 6% year-over-year in constant currency. GAAP net income for the first quarter was $161 million, or $0.38 per diluted share, down 17% per diluted share compared to $196 million, or $0.45 per diluted share, for the first quarter of 2015.

VMware also announced its intention to repurchase up to an aggregate of $1.2 billion of its Class A common stock through December 31, 2016 in the open market, subject to market conditions.

“Q1 was a good start to 2016. We made solid progress with our strategic goal of building momentum for our newer growth businesses and in the cloud,” said Pat Gelsinger, chief executive officer, VMware. “We continue to see momentum across our portfolio of growth products and businesses, including NSX, Virtual SAN and End-User Computing.”