VMware has announced that revenues for the third quarter of 2014 were $1,52-billion, an increase of 18% from the third quarter of 2013.
Operating income for the third quarter was $242-million, a decrease of 16% from the third quarter of 2013, reflecting the impact of the AirWatch acquisition. Non-GAAP operating income for the third quarter was $460-million, an increase of 5% from the third quarter of 2013, also reflecting the impact of the AirWatch acquisition, as expected.
Net income for the third quarter was $194-million, or $0.45 per diluted share, down 26% per diluted share compared to $261-million, or $0.60 per diluted share, for the third quarter of 2013. Non-GAAP net income for the quarter was $377-million, or $0.87 per diluted share, up 3% per diluted share compared to $363-million, or $0.84 per diluted share, for the third quarter of 2013.
Both GAAP and Non-GAAP results on a year-over year basis primarily reflect the acquisition of AirWatch, completed in the first quarter of 2014, as expected.
Cash, cash equivalents and short-term investments were $7.09 billion, and unearned revenues were $4.37 billion as of September 30, 2014.
“In every region of the world, customers are making a long-term bet on VMware to help them transform their businesses and embrace a new model for IT,” says Pat Gelsinger, CEO of VMware. “Customers are looking to VMware for technology choices that liberate them from the constraints of hardware, and which offer a new model for security, optimised for a world of millions of applications.”
Jonathan Chadwick, chief financial officer of VMware, comments: “Our third-quarter revenue grew 18%, reflecting strong customer adoption of our products and services. We are especially pleased by the performance of our newer businesses such as mobility, networking, storage, and hybrid cloud, which made significant progress in delivering against our long-term strategy.”
