SAN FRANCISCO: VMware Inc reported better-than-expected quarterly profit and revenue for the fifth straight quarter on Thursday, as more customers licensed its software products.
The company´s shares rose nearly 4 percent to $142.54 in extended trading.
The Palo Alto, California-based company´s licensing revenue jumped 20.7 percent to $774 million in the first quarter, beating analysts´ average estimate of $727.3 million, according to Thomson Reuters I/B/E/S. VMware´s services revenue, which accounts for more than 60 percent of its total revenue, rose 9.8 percent to $1.23 billion, in line with estimates.
Earlier this month, Dell Technologies Inc said it continues to consider a public offering of common stock or a combination with VMware, in which Dell owns a major stake.
VMware´s net income jumped nearly four-fold to $942 million, or $2.29 per share, in the quarter ended May 4.The profit jump was mostly due to a one-time gain of $781 million from Pivotal Software´s initial public offering.
State Bank of Pakistan building in this undated image. — SBP/FileKARACHI: The State Bank of Pakistan on Thursday...
The signing ceremony took place during the BYD Asia Pacific dealer conference event in Xi’an
The image shows a person in Pakistan receiving money from a person in Dubai. — Facebook/Bank AL Habib LimitedLAHORE:...
The MoU was signed by Omer Bin Tariq, country head of Onic Pakistan, and Imran Saleem, general manager ride hailing at...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices increased by Rs1,500 per tola on Thursday...
US flags hoisted outside the National Mall in Washington, DC. — AFP/FileWASHINGTON: The US economy grew faster than...