VMware Profit Tops View, Lifts Top End OF Revenue Outlook; Stock Up 11%

(RTTNews) - VMware Inc. (VMW), the virtualization software maker, Tuesday reported second-quarter net income of $244 million or $0.57 per share, compared with $192 million or $0.44 per share last year.

Excluding items, adjusted earnings for the quarter were $343 million or $0.79 per share, compared with $296 million or $0.68 per share a year ago.

Revenues for the quarter were up 11% at $1.24 billion, compared with $1.12 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.77 per share on revenues of $1.23 billion for the quarter.

Looking ahead to the third quarter, the company expects revenues of $1.27 billion to $1.30 billion, while analysts estimate $1.28 billion.

For fiscal year 2013, the company lifted the top end of its guidance and now estimates revenues of $5.12 billion to $5.26 billion, compared with prior range of $5.12 billion to $5.24 billion. Analysts expect revenues of $5.17 billion.