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VMWARE, INC.

(VMW)
  Report
Delayed Nyse  -  04:00:02 2023-01-27 pm EST
124.40 USD   -1.56%
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VMWare 3Q Revenue Edges Above Estimates, Profit Dwindles

11/22/2022 | 04:51pm EST

By Denny Jacob


VMWare Inc. on Tuesday logged higher revenue but dwindling profit in the latest quarter.

The software maker posted net income of $231 million, or 54 cents a share, for the third quarter ended Oct. 28, compared to $398 million, or 94 cents a share, a year earlier. Adjusted earnings were $1.47 a share, below analysts' estimates of $1.59.

Revenue rose to $3.21 billion from $3.29 billion. Analysts polled by FactSet had expected $3.19 billion.

Subscription and software-as-a-service revenue, a key industry metric, increased 20% over the last year to $988 million in the quarter.

The company's subscription and software-as-a-service annualized annual recurring revenue growth reflects increased adoption of its multi-cloud product portfolio and recently introduced customer programs, said Chief Financial Officer Zane Rowe.


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

11-22-22 1651ET

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Analyst Recommendations on VMWARE, INC.
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Financials (USD)
Sales 2023 13 372 M - -
Net income 2023 1 352 M - -
Net Debt 2023 6 882 M - -
P/E ratio 2023 38,9x
Yield 2023 -
Capitalization 52 923 M 52 923 M -
EV / Sales 2023 4,47x
EV / Sales 2024 4,01x
Nbr of Employees 37 500
Free-Float 53,4%
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Technical analysis trends VMWARE, INC.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 124,40 $
Average target price 139,33 $
Spread / Average Target 12,0%
EPS Revisions
Managers and Directors
Rangarajan Govind Raghuram Chief Executive Officer & Director
Sumit Dhawan President
Zane C. Rowe Chief Financial Officer & Executive Vice President
Michael Saul Dell Chairman
Jason Conyard Chief Information Officer
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