The company reported a year-over-year decline in net income to $167 million, or 38 cents a share, from $245 million, or 57 cents a share. Non-GAAP net income, however, rose 2% year over year to $351 million, or 81 cents per diluted share, from $343 million, or 79 cents per diluted share. This beat analysts' estimates of 79 cents a share.
Revenue rose 17.7% year over year to $1.46 billion from $1.24 billion to beat the consensus estimate of $1.44 billion.
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The stock was up 2.06% to $98.01 at 4:25 p.m.
Separately, TheStreet Ratings team rates VMWARE INC as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate VMWARE INC (VMW) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, solid stock price performance, impressive record of earnings per share growth and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."