VMware (VMW) Issues Quarterly Earnings Results
VMware (NYSE:VMW) announced its earnings results on Thursday. The virtualization software provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.05, Bloomberg Earnings reports. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.15 billion. VMware had a return on equity of 19.58% and a net margin of 15.61%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. VMware updated its FY19 guidance to approx $6.14 EPS and its Q3 guidance to approx $1.50 EPS.
Shares of VMware stock opened at $151.37 on Friday. The firm has a market cap of $62.77 billion, a PE ratio of 37.72, a P/E/G ratio of 2.56 and a beta of 0.53. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.44. VMware has a 12-month low of $102.03 and a 12-month high of $165.00.
In other news, COO Rajiv Ramaswami sold 30,000 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $142.66, for a total transaction of $4,279,800.00. Following the sale, the chief operating officer now directly owns 266,057 shares of the company’s stock, valued at $37,955,691.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 7,100 shares of the business’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $156.44, for a total value of $1,110,724.00. Following the sale, the chief financial officer now directly owns 102,458 shares in the company, valued at $16,028,529.52. The disclosure for this sale can be found here. Insiders have sold 123,739 shares of company stock worth $18,967,729 over the last ninety days. 29.90% of the stock is owned by insiders.
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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