News

VMware Announces Revenues of $1.6 Billion for Second Quarter 2014

License income experiences strong rise as well.

• By Keith Ward
• 07/22/2015

VMware's had solid earnings for the second quarter of 2015, slightly exceeding analysts' expectations with a 13 percent increase in year-over-year revenue (adjusted for inflation).

The company announced total revenues of $1.60 billion for Q2, and a profit of $0.93 per share. Wall Street expected revenues of $1.59 billion and profits of $0.91 per share.

Those figures were comparable to Q1 of this year, which were also up 13 percent on a constant currency basis. Total revenues in Q1 were $1.51 billion. In comparison, revenues for Q2 2014 were $1.46 billion.

The quarter also saw a healthy uptick in license revenue, according to The Motley Fool: "The best news for investors here was that software licenses picked steam, with growth rising 9% compared with a 6% gain in the prior quarter." License revenues, VMware reported, were $638 million.

Several other highlights, pulled from the VMware press release:

• GAAP net income for the second quarter was $172 million, or $0.40 per diluted share, up 5 percent per diluted share compared to $167 million, or $0.38 per diluted share, for the second quarter of 2014. Non-GAAP net income for the quarter was $396 million, or $0.93 per diluted share, up 15 percent per diluted share compared to $351 million, or $0.81 per diluted share, for the second quarter of 2014.
• GAAP operating income for the second quarter was $206 million, an increase of 3 percent from the second quarter of 2014. Non-GAAP operating income for the second quarter was $479 million, an increase of 12 percent from the second quarter of 2014.

In 2014, VMware hit $6 billion in revenue for the first time ever, and it would appear to be on track to eclipse that mark this year.