NEW YORK (TheStreet) -- Shares of VMware (VMW) - Get Report were advancing in after-hours trading on Wednesday after the company posted earnings and revenue that topped analysts' expectations for the 2016 third quarter.
After today's closing bell, the Palo Alto, CA-based cloud infrastructure solutions provider reported adjusted earnings of $1.14 per diluted share, surpassing analysts' estimates of $1.10 per share.
Revenue rose 6% to $1.78 billion from last year, while analysts had projected $1.76 billion.
License revenue increased 1% to $691 million year-over-year.
"We are pleased with our Q3 financial performance, which exceeded the midpoint of our revenue and operating margin guidance. We continue to broaden our portfolio with a range of products that will drive growth for the company," CFO Zane Rowe said in a statement.
More than 2.47 million of the company's shares changed hands today vs. its average 30-day volume of 1.70 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: VMW