VMware has announced that revenues for the second quarter of 2013 were $1,24-billion, an increase of 11% from the second quarter of 2012.
Excluding revenues attributable to GoPivotal and all divestitures that occurred in 2013, revenues for the second quarter increased 15% from the second quarter of 2012.
Operating income for the second quarter was $270-million, an increase of 28% from the second quarter of 2012. Non-GAAP operating income for the second quarter was $417-million, an increase of 16% from the second quarter of 2012.
Net income for the second quarter was $244-million, or $0.57 per diluted share, up 28% per diluted share compared to $192-million, or $0.44 per diluted share, for the second quarter of 2012. Non-GAAP net income for the quarter was $343-million, or $0.79 per diluted share, up 16% per diluted share compared to $296-million, or $0.68 per diluted share, for the second quarter of 2012.
Operating cash flows for the second quarter were $534-million, an increase of 36% from the second quarter of 2012. Free cash flows for the quarter were $458-million, an increase of 32% from the second quarter of 2012.
Cash, cash equivalents and short-term investments were $5,32-billion and unearned revenue was $3,6-billion as of June 30, 2013.
Annual 2013 revenues are expected to be in the range of $5,12-billion to $5,26-billion, and annual license revenues are expected to be in the range of $2,21-billion to $2,29-billion. Excluding revenues attributable to GoPivotal and all divestitures that occurred in 2013, this represents growth rates of 15% to 18% for total revenues and 8% to 12% for license revenues.
Third quarter 2013 revenues are expected to be in the range of $1,27-billion to $1,3-billion, and third quarter license revenues are expected to be between $535-million and $555-million. Excluding revenues attributable to GoPivotal and all divestitures that occurred in 2013, this represents growth rates of 17% to 20% for total revenues and 12% to 16% for license revenues.
“The second quarter was a strong finish to a solid first half of 2013 for VMware,” says Pat Gelsinger, CEO of VMware.
“We see a significant market opportunity in the second half of 2013 and beyond. VMware continues to succeed because we are uniquely positioned to help customers move from the client-server era to the mobile-cloud era of computing. As we help them bridge to this new world, we’re empowering businesses to capture new levels of efficiency, control and agility.”
“We are pleased with our second quarter results,” says Jonathan Chadwick, chief financial officer of VMware. “We exceeded the high end of our revenue guidance and achieved a record high non-GAAP operating margin in Q2. The company is aligned and focused, and we enter the second half of the year with significant momentum.”