VMware Tops Sales, Profit Views -- Earnings Review

03/01/18 05:03 PM EST
   By Imani Moise 

Software maker VMware Inc. reported fourth-quarter earnings after the closing bell Thursday. Here's what you need to know:

EARNINGS: A $970 million charge related to the new tax laws caused the company to swing to a loss, but earnings grew 18% to $1.68 per share on an adjusted basis. Analysts polled by Thomson Reuters had forecast earnings of $1.62 a share.

REVENUE: Sales jumped 14% to $2.31 billion driven by a 20% increase in license revenue. Analysts had forecast $2.26 billion in revenue.

STOCK MOVE: Shares fell 1.3% to $121 in the extended session adding to the 6.1% decline logged during Thursday trading. The stock has risen 36% over the past year while the S&P 500 has gained 12%.

Write to Imani Moise at imani.moise@wsj.com


(END) Dow Jones Newswires

March 01, 2018 17:03 ET (22:03 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.