VMware announced financial results for the fourth quarter and full year of 2014. Total revenues for the fourth quarter were $1.70 billion, an increase of 15% from the fourth quarter of 2013, or up 16% year over year in constant currency.
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License revenues for the fourth quarter were $777 million, an increase of 13% from the fourth quarter of 2013, or up 16% year over year in constant currency.
Operating income for the fourth quarter was $344 million, a decrease of 8% from the fourth quarter of 2013. Non-GAAP operating income for the fourth quarter was $567 million, an increase of 7% from the fourth quarter of 2013.
Net income for the fourth quarter was $326 million, or $0.75 per diluted share, a decrease of 2% per diluted share compared to $335 million, or $0.77 per diluted share, for the fourth quarter of 2013.
Non-GAAP net income for the quarter was $467 million, or $1.08 per diluted share, an increase of 7% per diluted share compared to $436 million, or $1.01 per diluted share, for the fourth quarter of 2013. Both GAAP and Non-GAAP results on a year-over-year basis include the impact of the acquisition of AirWatch, completed in the first quarter of 2014.
Revenues for 2014 were $6.04 billion, an increase of 16% from 2013. Operating income for 2014 was $1.03 billion, a decrease of 6% from 2013. Non-GAAP operating income for 2014 was $1.88 billion, an increase of 6% from 2013.
Net income for 2014 was $886 million, or $2.04 per diluted share, a decrease of 13% compared to $1.01 billion, or $2.34 per diluted share, for 2013. Non-GAAP net income for 2014 was $1.54 billion, or $3.56 per diluted share, an increase of 5% per diluted share compared to $1.46 billion, or $3.37 per diluted share, for 2013.
Both GAAP and Non-GAAP results on a year-over-year basis include the impact of the acquisition of AirWatch, completed in the first quarter of 2014.
Operating cash flows for 2014 were $2.18 billion, a decrease of 14% from 2013, and free cash flows for the year were $1.83 billion, a decrease of 17% from 2013.
Cash, cash equivalents and short-term investments were $7.08 billion and unearned revenues were $4.83 billion as of December 31, 2014. ■