VMware reports net profit of US$220mn for Q2

- Wednesday, July 20, 2011

VMware reports net profit of US$220mn for Q2

California-based virtualization software firm VMware reported a net profit of US$220mn during the second quarter of 2011, up 195% year-over-year, according to results released by the company.

Total revenues for VMware during 2Q11 were US$921mn, growing 36.7% compared to the same period last year. License revenues were up 43.6% to US$464mn, while services revenues grew 30.3% to US$456mn.

For the six months ended June 30, the company's profits jumped 126% year-over-year to US$345mn, while revenues increased 35% to US$1.76bn.

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"The quarter's strong performance reflects the continued adoption of virtualization as a key technology for the next era of computing," said VMware CEO Paul Maritz.

"Third quarter 2011 revenues are expected to be in the range of US$915mn and US$940mn, a year-over-year increase of 28-32%. For the year, we expect annual revenues to be in the range of US$3.65bn and US$3.75bn, an increase of 28-31% compared to 2010," VMware CFO Mark Peek said.

Use this link to view the results.