SAN FRANCISCO -- With customers growing nervous about technology spending, VMware ( VMW) cautioned that full-year revenue could come in at the low end of its prior forecast.Investors, however, chose to focus on how well the virtualization software maker survived its most recent quarter. Shares of Vmware shot 22% higher in extended trading Tuesday after the company beat Wall Street's third-quarter earningss expectations, as profit jumped 29%. Profit grew 29% to $83.3 million, or 21 cents a share, from $64.7 million, or 18 cents a share, in the year-ago period. Excluding special charges, EPS was 24 cents. Analysts were expecting 20 cents, less items. Third-quarter evenue for the leading virtualization software vendor rose 33% to $472.1 million, from $357.8 million for the same quarter of last year. Analysts were looking for a top line of $462.7 million, according to Thomson Reuters. During the quarter, VMware closed on 90% of the deals held over from the second quarter, executives said. Deferred revenue jumped 83% year over year to $780 million and 8% sequentially. For the full year, VMware said that revenue would likely be near the low end of the previously projected growth range of 42% to 45%, suggesting revenue closer to $1.88 billion. Full-year growth of 42% suggests fourth-quarter revenue of $516.2 million. For the fourth quarter, analysts are expecting EPS, less items, of 24 cents on revenue of $518.4 million, according to Thomson Reuters. VMware is seeing more of an effect from macroeconomic conditions than from competition, CEO Paul Maritz said on the company's third-quarter conference call Tuesday. Customers are taking longer to make choices between VMware and Microsoft ( MSFT) or other competitors, "but the economy is a much greater concern at this point in time," he added.