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.
The 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.