{"id":17173,"date":"2020-05-29T15:20:00","date_gmt":"2020-05-29T15:20:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2575002"},"modified":"2020-05-29T15:20:00","modified_gmt":"2020-05-29T15:20:00","slug":"vmware-delivers-solid-q1-as-subscription-saas-revenue-jumps-2","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/05\/29\/vmware-delivers-solid-q1-as-subscription-saas-revenue-jumps-2\/","title":{"rendered":"VMware delivers solid Q1 as subscription, SaaS revenue jumps"},"content":{"rendered":"

VMware handily topped earnings estimates for its first quarter.<\/strong><\/p>\n

<\/p>\n

VMware delivered better-than-expected first quarter results as its subscription and software as a service revenue jumped 39% from a year ago.<\/p>\n

The company reported first quarter earnings<\/a> of $386 million, or 92 cents a share, on revenue of $2.73 billion, up 12% from a year ago. Non-GAAP earnings were $1.52 a share.<\/p>\n

Wall Street was looking for revenue of $2.64 billion with non-GAAP earnings of $1.20 a share for the first quarter.<\/p>\n

CEO Pat Gelsinger said the company’s software was critical to cloud providers<\/a> and enterprise customers that had to shift to remote work<\/a> amid the COVID-19 pandemic<\/a>.<\/p>\n

Gelsinger said that products like Workplace One and VMware on AWS resonated well in the quarter.<\/p>\n

Customers continue to look to VMware for solutions across app monetization, multi-cloud, digital workspace, intrinsic security and virtual cloud network as they rely more heavily on fewer strategic partners. <\/p>\n

With Workspace ONE, we are uniquely positioned to help our customers enable their employees to productively work remotely, work more securely with Carbon Black Cloud, increase connectivity with VMware SD-WAN and scale their applications with VMware Cloud. <\/p>\n

VMware’s subscription and SaaS revenue is nearing parity with its license revenue. <\/p>\n

The company didn’t provide an outlook for the second quarter.<\/p>\n

 <\/p>\n

\n

See Campaign: <\/strong>https:\/\/www.zdnet.com\/article\/vmware-delivers-solid-q1-as-subscription-saas-revenue-jumps\/#ftag=RSSbaffb68<\/a>
Contact Information:<\/b>
Larry Dignan<\/p>\n

Tags:<\/b>
<\/a>, Wire<\/a>, United States<\/a>, English<\/a><\/p>\n

\"image\"<\/div>\n

\n

Contact Information:<\/h3>\n

Larry Dignan<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

VMware handily topped earnings estimates for its first quarter. VMware delivered better-than-expected first quarter results as its subscription and software as a service revenue jumped 39% from a year ago. The company reported first quarter earnings of $386 million, or 92 cents a share, on revenue of $2.73 billion, up 12% from a year ago. Non-GAAP earnings … Continue reading VMware delivers solid Q1 as subscription, SaaS revenue jumps<\/span><\/a> Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":106,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22,54],"tags":[],"class_list":["post-17173","post","type-post","status-publish","format-standard","hentry","category-english","category-united-states","category-wire"],"yoast_head":"\nVMware delivers solid Q1 as subscription, SaaS revenue jumps - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2020\/05\/29\/vmware-delivers-solid-q1-as-subscription-saas-revenue-jumps-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VMware delivers solid Q1 as subscription, SaaS revenue jumps - Business\" \/>\n<meta property=\"og:description\" content=\"VMware handily topped earnings estimates for its first quarter. VMware delivered better-than-expected first quarter results as its subscription and software as a service revenue jumped 39% from a year ago. The company reported first quarter earnings of $386 million, or 92 cents a share, on revenue of $2.73 billion, up 12% from a year ago. 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