Vmware Projects Q2 Profit In A Range Of $0.78 To $0.86 Per Share

(RTTNews) - VMware, Inc. (VMW) Monday said it expects second quarter preliminary earnings in a range of $0.78 to $0.86 per share. On an adjusted basis, earning for the quarter is expected to be $1.15 to $1.19 per share.

Revenue for the quarter is expected to be between $1.894 billion and $1.906 billion, up 11.9 to 12.6 percent from the prior year. License revenue is expected to be between $727 and $737 million.

For the fiscal 2018, the company expects earnings per share to be in range of $3.19 to $3.47 per share. Adjusted earnings projected to be $5.08 per share.

Revenue for the fiscal year is expected to be up 10 percent from the previous year to $7.830 billion, while license revenue is expected to be $3.075 billion.

In a separate announcement, the company said it intends to use the net proceeds from the offering of Senior notes to fund the additional purchase of up to $1 billion of its Class A common stock over the next 12 months use the remaining proceeds for general corporate purposes, which may include pursuing varios and to repay promissory notes in the aggregate principal amount of $1.23 billion.

Vmware said it has no plans for issuing a dividend.