VMware (VMW) Tops Q3 EPS by 23c; Raises Outlook

VMware (NYSE: VMW) reported Q3 EPS of $1.66, $0.23 better than the analyst estimate of $1.43. Revenue for the quarter came in at $2.86 billion versus the consensus estimate of $2.81 billion.

“Q3 was another good quarter for VMware, and we’re pleased with our results,” commented Pat Gelsinger, CEO, VMware. “As customers navigate through these unprecedented times, our focus remains on delivering the digital foundation for an unpredictable world. We continue to shape the future in areas that are top priority for every business–from app development to multi-cloud to security and digital workspaces.”

“Subscription and SaaS revenue increased 44% year-over-year in Q3 and surpassed license revenue for the first time,” said Zane Rowe, executive vice president and CFO, VMware. “VMware will continue to invest in and focus on further expanding our Subscription and SaaS portfolio, which we believe will drive company growth, customer satisfaction and shareholder value.”

GUIDANCE:

VMware sees FY2021 EPS of $7.03-$6.66. VMware sees FY2021 revenue of $11.7 billion, versus the consensus of $11.62 billion.

For earnings history and earnings-related data on VMware (VMW) click here.

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