Updated from 4:29 p.m. EDTSAN FRANCISCO -- VMware ( VMW) shot past revenue expectations in its debut third-quarter report Wednesday. The Palo Alto, Calif. based virtualization software developer reported revenue of $357.8 million, up 89.5% year on year and 7.6% higher than expectations. Analysts were projecting a top line of $332.5 million, according to Thomson Financial. Revenue was $188.8 million in the same quarter of the prior year. EPS was 18 cents on net income of $64.7 million, vs. EPS of 6 cents and a bottom line of $19.2 million in the year-ago period. The stock was recently up more than 4% to $108. Excluding items, EPS was 23 cents. Analysts were expecting EPS, excluding items, of 17 cents. CFO Mark Peek said on a conference call that the company would not provide fourth-quarter guidance, calling it "extremely challenging" to do so yet. He said the company's fourth quarter typically is seasonally stronger, and deferred revenue would increase accordingly. "Increased customer-adoption of VMware infrastructure was a significant driver in growing our revenues 90%," CEO Diane Greene said in a statement. Operating cash flow for the trailing 12 months was $514 million, compared to $230 million a year ago, according to the company. Excluding items, operating cash flow for the quarter was $137 million vs. $56 million in the prior year.