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VMware, Inc. (VMW) Stock Spikes on Q1 Earnings Beat

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VMware, Inc. ( VMW ) stock was up on Wednesday following its Q1 2016 earnings report.

VMware's earnings per share reported during Q1 2016 was 86 cents . This is the same as what it reported during the first quarter of 2015. It came in above the 84 cents that Wall Street was expecting.

VMware reported revenue of $1.59 billion for the first quarter of 2016. This is a 5% increase from revenue reported during the same time last year. The company's revenue also surpassed analysts' expectations, which were set at $1.58 billion.

VMware also announced a share buyback plan for 2016 that was approved by its Board of Directors. The plan allows the company to repurchase $1.2 billion of its stock through Dec. 31, 2016.

VMW shares were up 13% as of Noon Wednesday.

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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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