VMware net profits double in Q3

- Tuesday, October 18, 2011

VMware net profits double in Q3

California-based virtualization software firm VMware reported a US$178mn net profit during the third quarter of 2011, jumping 109% from US$85mn in the year-ago period, the company said in its latest earnings statement.

VMware's revenues for Q3 were US$942mn, a 32% increase from the third quarter of 2010. International revenues reached US$498mn, surging 42% year-on-year.

"VMware's third quarter results were driven by growth across all products. Demand was especially strong in the Asia-Pacific markets, and we also experienced the seasonal impact of sales to the US federal government," company CFO Mark Peek said.

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"Fourth quarter 2011 revenues are expected to be in the range of US$1.03bn-US$1.06bn, a year-over-year increase of 23-27%," the executive said.

Go to this link to see VMware's financial results.