VMware Tops Sales, Profit Views -- Earnings Review
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 firstname.lastname@example.org
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March 01, 2018 17:03 ET (22:03 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.