VMware Earnings: VMW Stock Dips Despite Topping Q3 Earnings Guidance

Shares fell less than 1% after the bell Thursday

VMware earnings (NYSE:VMW) were better than what the Wall Street consensus estimate called for, according to a survey of analysts who monitored the company’s health, but the cloud computing platform and services provider’s shares still slid late in the day Thursday.

VMware EarningsThe Palo Alto, Calif.-based company said that for its third quarter of its fiscal 2018, it brought in net income of $334 million, or 81 cents per share. On an adjusted basis when considering one-time gains and costs, the x86 architecture pioneer raked in earnings of $1.56 per share, marking a 26% increase compared to its year-ago results.

VMware earnings were stronger than the $1.50 per share that the average estimate of 11 analysts surveyed by Zacks Investment Research was calling for. The company added that its revenue for the period reached $2.2 billion, which marked a 14% gain compared to its revenue from the third quarter of fiscal 2017.

Analysts were calling for revenue of $2.17 billion, according to a survey from nine analysts who were polled by Zacks. VMWare sees its full-year earnings to be $6.22 per share, while its revenue is slated to be around $8.88 billion.

VMW stock is sliding about 0.7% after the bell on Thursday despite the company’s strong quarterly earnings showing. Shares had been gaining a touch above 1% during regular trading hours today as the company prepared itself to report for its third quarter of the fiscal year, which is nearing its close.

Article printed from InvestorPlace Media, https://investorplace.com/2018/11/vmware-earnings-vmw-stock/.

©2020 InvestorPlace Media, LLC