Enterprise virtualization software provider VMware (NYSE:VMW) posted an impressive quarterly earnings report July 19, nearly tripling its profits over the same quarter a year ago.
The Palo Alto, Calif.-based company’s net income for the second quarter of 2011 was $220 million, compared with $75 million in 2010.
VMware’s revenue in its fiscal Q2 climbed to $921 million, yielding 51 cents per share and representing an increase of 37 percent from the second quarter of 2010. The analysts’ consensus was in the neighborhood of $873 million in revenue and 47 cents per share.
For Q3 2011, VMware’s CFO Mark Peek said the company projects another 30 percent rise in revenue, ranging from $915 million to $940 million — well ahead of the average $899 million estimate by Wall Street analysts.
Peek said earnings were driven by record enterprise license-agreement bookings as a percentage of total bookings across all geographic markets.
To read the original eWeek article, click here: VMware Nearly Triples Profits Over Year-Ago Q2