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VMware profit beats expectations, affirms revenue forecast
April 23, 2013 / 9:37 PM / 4 years ago

VMware profit beats expectations, affirms revenue forecast

(Reuters) - Cloud computing software maker VMware Inc (VMW.N) reported a better-than-expected adjusted quarterly profit, helped by a 13 percent jump in revenue.

The company also stood by its full-year revenue forecast and its shares fell 8 percent in extended trading.

VMware, controlled by data storage equipment maker EMC Corp EMC.N, said net income fell to $173.6 million, or 40 cents per share, in the first quarter, from $191.4 million, or 44 cents per share, a year earlier.

Excluding items, VMware earned 74 cents per share. Revenue rose to $1.19 billion. Analysts on average had expected a profit of 70 cents per share on revenue of $1.18 billion, according to Thomson Reuters I/B/E/S.

(This story was corrected to fix headline and text to reflect that company affirmed, not cut, its revenue forecast)

Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel

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