VMware stock rises after revenue beat

VMware stock rises after revenue beat

VMware Inc. VMW, +3.60% shares rose 3% in the extended session Thursday after the company beat revenue expectations.

The software company reported fourth-quarter net income of $502 million, or $1.21 a share, compared with losses of $387 million, or 96 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation and other items, earnings were $1.98 a share, compared with adjusted earnings of $1.60 in the year-ago period. Revenue rose to $2.58 billion from $2.23 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.88 a share on revenue of $2.5 billion. For the first quarter, analysts model earnings of $1.32 a share on sales of $2.23 billion. VMware stock has gained 30% in the past year, with the S&P 500 index SPX, -0.28% rising 2.9%.

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