VMware released its financial results for the first quarter on Thursday in line with market expectations.
The company’s non-GAAP net income for the first quarter was $ 744 million, or $ 1.76 per diluted share. Revenue for the first quarter was $ 2.99 billion, an increase of 9 percent over the first quarter of fiscal 2021.
Analysts had expected earnings of $ 1.73 per share on sales of $ 2.98 billion.
“We are pleased with our financial performance in the first quarter as we have delivered solutions to customers in strategic areas such as multi-cloud, application modernization and digital workspaces while focusing on providing a wider choice of consumption options with our subscription and SaaS offerings to offer, “said Interim CEO and CFO Zane Rowe in a statement. “We are excited to welcome Raghu Raghuram as the next CEO of VMware. This milestone, along with the planned spin-off of Dell, forms the basis for the company’s next innovative chapter.”