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Wednesday, 24 October 2012 - VMware profit beats estimates, names new CFO |
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VMware also named Jonathan Chadwick as its new chief financial officer on Tuesday. Chadwick has previously served as Microsoft Corp's (MSFT.O) corporate vice president and as the CFO of Skype. VMware, a publicly traded division of storage giant EMC Corp (EMC.N), forecast fourth quarter revenue of $1.26 billion to $1.29 billion, compared with analysts' expectations of $1.28 billion, according to Thomson Reuters I/B/E/S. Net profit fell to $157 million, or 36 cents per share, from $178 million, or 41 cents per share, a year earlier. Revenue rose 20 percent to $1.13 billion from $942 million. Excluding items, the company earned 70 cents per share. Analysts, on average, had forecast $1.13 billion in revenue and earnings of 63 cents per share. VMware is the biggest maker of the so-called virtualization software that reduces the number of servers companies need. It competes with Oracle Corp (ORCL.O) in that market and with Salesforce.com Inc (CRM.N) in offering "cloud" computing services. Shares of the Palo Alto, California-based company were up 1 percent at $84.40 in extended trade. It closed at $83.72 on Tuesday on the New York Stock Exchange. (Reporting by Aurindom Mukherjee in Bangalore; Editing by Richard Chang) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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