The company reported adjusted earnings in the period of $1.98 a share, beating estimates of $1.88 billion. Revenue in the period was $2.58 billion, up 16% from a year earlier, and higher than analysts' expectations of $2.5 billion. License revenue for the fourth quarter was $1.23 billion, an increase of 21% from a year earlier, VMware said.
Net earnings in the quarter were $1.21 a share vs. a year-earlier loss of 96 cents.
"Q4 was a terrific ending to a strong fiscal '19 driven by broad-based strength across our diverse product portfolio and in all three geographies,"said Vmware CEO Pat Gelsinger in a press release. "VMware is providing the essential ubiquitous software foundation for our customers' digital transformations while we also work to drive positive global impact across our people, products and the planet."
Wedbush on Friday raised its price target on VMware shares to $190 from $173.
VMware shares have risen more than 25% year to date.