After the market close today, the provider of virtualization infrastructure solutions reported earnings of $1.26 per share, versus analysts' forecasts for earnings of $1.25 per share.
Revenue rose by 10% year-over-year to $1.87 billion, compared to analysts' estimates for revenue of $1.85 billion. License revenues rose by 11% year-over-year on a constant currency basis, according to the company.
VMWare also announced that it will cut about 800 jobs, which will cause the company to pay between $55 million and $65 million during the first half of 2016.
CFO and COO Jonathan Chadwick will leave the company and be replaced by EMC Corp. (EMC) CFO Zane Rowe on March 1, the company announced.
"Our Q4 and 2015 results met or exceeded our revenue and operating margin expectations for the quarter and the year," Chadwick said in a statement. "We are seeing the results of our product transitions and have positive momentum with our newer solutions heading into 2016."
Separately, 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.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: VMW