VMware Reports Healthy Q3 Revenue
The company outperforms 2013 in every quarter so far.
VMware Inc. continues to see an upward climb in its bottom line, including the third quarter of 2014, which saw an 18 percent jump from the previous period in 2013.
In its latest earnings release, the virtualization giant reported total revenue of $1.52 billion. That also compares well to last quarter's earnings, which increased 17 percent from the same period in 2013, coming in at $1.46 billion.
Operating income continued to take a hit from the AirWatch buy, as it has done every quarter since. The $242 million represents a decline of 16 percent from Q3 2013. Still, the dip was less than the Q2 drop, which was 26 percent. VMware paid $1.54 billion for AirWatch.
"Our third-quarter revenue grew 18 percent, reflecting strong customer adoption of our products and services," Jonathan Chadwick, chief financial officer, was quoted as saying in the earnings release. "We are especially pleased by the performance of our newer businesses such as mobility, networking, storage and hybrid cloud, which made significant progress in delivering against our long-term strategy."
The numbers for 2014 continue to trend in a positive direction for VMware. First-quarter 2014 revenue clocked in at $1.36 billion, a 14 percent increase year-over-year. That means VMware is outpacing 2013's revenue by a larger percentage each quarter.
More information on VMware financials can be found on its Investor Relations page.
Keith Ward is the editor in chief of Virtualization & Cloud Review. Follow him on Twitter @VirtReviewKeith.