By Stephen Nellis
(Reuters) – VMware Inc on Tuesday forecast adjusted fourth quarter earnings above expectations and global demand for cloud computing fueled sales.
VMware expects adjusted earnings of $ 1.96 per share for the fourth quarter, which is above analyst expectations of $ 1.89 per share. According to IBES data from Refinitiv, the company forecast fourth quarter revenue of $ 3.51 billion, in line with analysts’ expectations of $ 3.55 billion.
VMware spun off from Dell Technologies Inc. earlier this year. The software company offers tools that help companies use their own data centers more efficiently and move their computing work back and forth between their own data centers and those of cloud computing companies like Amazon Web Services.
Chief Executive Raghu Raghuram told Reuters in an interview that the company expects to see sales growth in all regions of the world over the next fiscal year.
“IT spending will stabilize until the next …