VMware reports net profit of US$126mn for Q1

- Wednesday, April 20, 2011

VMware reports net profit of US$126mn for Q1

California-based virtualization software firm VMware reported a net profit of US$126mn during the first quarter of 2011, up 20% year-over-year, according to results released by the company.

Total revenues for VMware during 1Q11 were US$844mn, growing 33% compared with the same period last year. US revenues were up 26% to US$400mn, while international revenues grew 40% to US$444mn.

According to VMware CFO Mark Peek, the company expects to see revenues between US$860mn and US$880mn with year-over-year growth of 28-31% in the second quarter. Peek said VMware predicts annual revenues for 2011 to grow 24-28%, ranging between US$3.55bn and US$3.65bn.

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Previously, Marco Fontenelle, company manager of partners, OEMs and alliances for Brazil and the rest of Latin America, told BNamericas that VMware is looking to continue double-digit growth in the region by focusing on the current customer base and taking those clients to the next level in virtualization.

Use this link to view the results.