VMware Q2 second revenue up 12.2%
Staff Writer | August 25, 2017
VMware announced financial results for fiscal 2018 second quarter:
Revenue for the second quarter was $1.90 billion, an increase of 12.2% from the second quarter of 2016.
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License revenue for the second quarter was $732 million, an increase of 13.7% from the second quarter of 2016.
GAAP net income for the second quarter was $334 million, or $0.81 per diluted share, up 30% per diluted share compared to $265 million, or $0.62 per diluted share, for the second quarter of 2016.
Non-GAAP net income for the quarter was $489 million, or $1.19 per diluted share, up 22% per diluted share compared to $414 million, or $0.97 per diluted share, for the second quarter of 2016.
GAAP operating income for the second quarter was $338 million, an increase of 5% from the second quarter of 2016.
Non-GAAP operating income for the second quarter was $585 million, an increase of 15% from the second quarter of 2016.
Operating cash flows for the second quarter were $620 million. Free cash flows for the quarter were $563 million.
Cash, cash equivalents and short-term investments were $8.9 billion, and unearned revenue was $5.5 billion as of August 4 2017.
Total revenue plus sequential change in total unearned revenue grew 18% year-over-year.
License revenue plus sequential change in unearned license revenue grew 14% year-over-year.
VMware's debut debt offering of $4 billion in 3-, 5- and 10-year senior unsecured notes was completed on August 21, 2017.
As previously announced, VMware's Board of Directors authorized $1 billion for stock repurchases through August 31, 2018, in addition to the $900 million authorized amount remaining in the ongoing $1.2 billion stock repurchase program for fiscal 2018, originally announced in January 2017. ■ What to read next
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