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VMware Earnings: VMW Stock Gains as Revenue Gains 15%, Beats Guidance

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VMware (NYSE: VMW ) revealed its latest quarterly earnings results after hours today, bringing in revenue that topped Wall Street's guidance and gained more than 15% year-over-year, playing a role in VMW stock's late-afternoon surge.

The Palo Alto, Calif.-based cloud software and services provider said that its fourth quarter of 2018 yielded a net profit of $502 million, or $1.21 per share. During its fourth quarter of fiscal 2017, the business posted a net loss of $387 million, or 96 cents per share.

VMware added that its earnings tallied up to $1.98 per share on an adjusted basis when taking into account stock-based compensation and other items, nearly 40 cents ahead of its year-ago adjusted profit of $1.60 per share. Analysts saw the cloud business as amassing adjusted earnings of $1.88 per share, according to a survey conducted by FactSet .

The company's revenue surged to about $2.58 billion, about 15.7% higher than its sales of $2.23 billion from its fourth quarter of the previous year. Wall Street's consensus estimate predicted that VMware would tally up sales of $2.5 billion, also per a FactSet survey.

For its first quarter of its fiscal 2019, the brand forecasts earnings of $1.23 per share on an adjusted basis, while sales are slated to reach $2.23 billion.

VMW stock popped roughly 3.4% after the bell as the Dell Technologies subsidiary had a positive quarter on the sales front. Shares had been declining close to 2.4% during regular trading hours as VMware readied itself to report for the period.

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The post VMware Earnings: VMW Stock Gains as Revenue Gains 15%, Beats Guidance appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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