VMware reports the Fiscal Year 2021 third Quarter results. VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, announced financial results for the third quarter of fiscal 2021. VMware last issued its quarterly earnings data on November 23rd, 2020. Its quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items. Total revenue growth of 8% year-over-year and Subscription and SaaS revenue growth of 44% year-over-year which is 24% of total revenue.
- Revenue for the third quarter was $2.86 billion, an increase of 8% from the third quarter of fiscal 2020.
- The combination of subscription and SaaS and license revenue was $1.32 billion, an increase of 10% from the third quarter of fiscal 2020.
- Subscription and SaaS revenue for the third quarter was $676 million, an increase of 44% year-over-year, representing 24% of total revenue.
- GAAP net income for the third quarter was $434 million, or $1.02 per diluted share, compared to $407 million, or $0.96 per diluted share, for the third quarter of fiscal 2020.
- GAAP operating income for the third quarter was $428 million, an increase of 15% from the third quarter of fiscal 2020. Non-GAAP operating income for the third quarter was $888 million, an increase of 17% from the third quarter of fiscal 2020.
- Operating cash flow for the third quarter was $992 million. Free cash flow for the third quarter was $908 million.
- RPO for Q3 totaled $10.2 billion, up 10% year-over-year.
“Q3 was another good quarter for VMware, and we’re pleased with our results,” commented Pat Gelsinger, CEO, VMware. “As customers navigate through these unprecedented times, our focus remains on delivering the digital foundation for an unpredictable world. We continue to shape the future in areas that are a top priority for every business–from app development to multi-cloud to security and digital workspaces.”, He added.
Business Highlights & Strategic Announcements
At VMworld 2020, VMware welcomed nearly 200,000 registrants and introduced a wave of new offerings and partnerships designed to help customers navigate their own transformation journeys. The news across VMworld includes:
- VMware unveiled new innovations to deliver intrinsic security to the world’s digital infrastructure. Specifically, VMware Carbon Black Cloud Workload delivers advanced protection built into vSphere for better securing modern workloads to reduce the attack surface and strengthen security posture.
- VMware outlined VMware Workforce Anywhere solutions to provide exceptional workforce experiences, end-to-end Zero Trust security controls, and simplified management featuring VMware NSX Secure Access Service Edge (SASE), Workspace ONE, and Carbon Black Endpoint Security capabilities.
- VMware announced partnerships with Menlo Security and Zscaler to help large global enterprises simplify the adoption of a complete SASE architecture and more effectively implement Zero Trust security.
- VMware acquired SaltStack, a pioneer in building intelligent, event-driven automation software. SaltStack will enable VMware to significantly broaden its software configuration management and infrastructure and network automation capabilities.
- VMware unveiled updates to Tanzu support across VMware Cloud on AWS, Azure VMware Solution, and Oracle Cloud VMware Solution.
- VMware announced Project Monterey—a technology preview focused on evolving the architecture for the data center, cloud, and edge to address the changing requirements of next-generation applications including AI, machine learning, and 5G applications.
- VMware and NVIDIA announced a broad partnership to deliver both an end-to-end enterprise platform for AI and a new architecture for data center, cloud, and edge that uses NVIDIA DPUs (data processing units) to support existing and next-generation applications. This will help accelerate AI adoption, enabling enterprises to extend existing infrastructure for AI, manage all applications with a single set of operations and deploy AI-ready infrastructure where the data resides, across the data center, cloud and edge.
- The company announced the 5G Telco Cloud Platform, a consistent cloud-first solution powered by a field-proven, carrier-grade, and high-performance cloud-native infrastructure with intelligent automation. This new platform includes Tanzu Kubernetes Grid—an embedded Kubernetes distribution—that will allow Communication Service Providers to reliably build, manage, and run containerized workloads across private, telco, edge, and public clouds.
- •VMware announced it has collaborated with Samsung Electronics Co., Ltd. to further extend its leadership in 5G. Through this alliance, the companies seek to help communication service providers meet the requirements of 5G networks and accelerate the roll-out of 5G by optimizing Samsung’s portfolio of telco offerings from Core to Edge to RAN for both containerized network functions and virtualized network functions with VMware Telco Cloud Platform.
- The company unveiled VMware vSphere 7 Update 1, VMware vSAN 7 Update 1 and VMware Cloud Foundation 4.1 product releases that streamline customer adoption of Kubernetes, support stateful applications with new developer-ready capabilities and enhance scalability and operations with new features. VMware also announced Tanzu editions—packaging portfolio capabilities to address the most common scenarios customers encounter in their modernization efforts.
- In August, the company was positioned as a Leader in “The Forrester Wave: Infrastructure Automation Platforms, Q3 2020.”
- In September, VMware has again been positioned as a Leader in the Gartner 2020 Magic Quadrant for WAN Edge Infrastructure.
Source: VMware News Room
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