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VMware Announces First-Quarter 2016 Results

Cloud Computing

VMware Announces First-Quarter 2016 Results

A prominent company in cloud infrastructure and business mobility VMware reported its first-quarter 2016 financial results. The company has recorded an increase of 5% compared to last year and registered a total revenue of $1.59 billion.

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The revenue from the licenses was $572 million, marking a decrease of 1% from the first quarter of 2015. GAAP net income attributable to VMware was $161 million in the first quarter, down 17% compared to $196 million for the first quarter of 2015. GAAP operating income for the first quarter was $192 million, a decrease of 12% from the first quarter of 2015.

Non-GAAP net income for the quarter was $366 million. Non-GAAP operating income for the first quarter was $446 million, a decrease of 1% compared to last year.

VMware generated $720 million in operating cash flow and $679 million in free cash flow in the first quarter. The company ended the quarter with $8.25 billion in cash, cash equivalents and short-term investments. The unearned revenues stood at $4.98 billion as of March 31, 2016.

Commenting on the quarter result, Pat Gelsinger, chief executive officer, VMware said, “Q1 was a good start to 2016. We made solid progress with our strategic goal of building momentum for our newer growth businesses and in the cloud. We continue to see momentum across our portfolio of growth products and businesses, including NSX, Virtual SAN and End-User Computing.”

“I’m pleased with the team’s ability to execute according to our Q1 plan,” commented Zane Rowe, executive vice president and chief financial officer, VMware. “Our intent to repurchase $1.2 billion of stock this year underscores the confidence we have in the business and reinforces our capital allocation strategy, which includes returning capital to shareholders.”

Ria Lakshman. V is a lead news writer at The Telecom Times. She studied Journalism at Manipal School of Communication and proceeded to work in newspapers and magazines, with technology as her focus area. Passionate about Telecommunications sector, her move to 'The Telecom Times' was a natural choice. Alongside, she also writes for Telecom Talk, where she covers news and tech commentaries in the sector of telecom. In the free time, Ria loves to go camping, read books, or sketch illustrations. She also runs a local design studio and promotes eco-friendly crafts. Ria can be found sharing her knowledge and insights on Twitter.

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