NEW YORK (
(VMW - Get Report)
beat analysts' revenue and earnings estimates. The virtualization trailblazer's shares plunged on weaker-than-expected guidance.
The software maker reported revenue of $1.29 billion, a 22% rise on the prior year's quarter and above Wall Street's estimate of $1.28 billion.
Excluding items, VMware earned 81 cents a share, up from 62 cents a share a year earlier. Analysts surveyed by
were looking for earnings of 78 cents a share.
Virtualization software, which lets multiple operating systems run in the same computer, has become synonymous with VMware, fuelling the company's
. Investors, however, balked at VMware's outlook on Monday, pushing the company's shares down 14% to $84.88 in extended trading.
For the first quarter, VMware expects sales between $1.17 billion and $1.19 billion, below analysts' forecast of $1.25 billion.
VMware's also looking for fiscal 2013 revenue of $5.23 billion to $5.35 billion, well below Wall Street's prediction $5.42 billion.
The results also weighed on
(EMC - Get Report)
, which is VMware's majority owner. Shares of the storage giant, which reports its own fourth-quarter results Tuesday, fell 4.6% to $24.05 in extended trading.
-- Written by James Rogers in New York
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