VMware Set to Grow in 2013
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VMware reported its fourth quarter and full year fiscal 2012 financial results on Monday. For the fourth quarter, VMware reported revenue of $1.29 billion, for a 22 percent year-over-year gain. VMware's full year revenues also rose by 22 percent, coming in at $4.61 billion. Net Income for the fourth quarter was reported at $206 million and for the full year at $746 million.
Looking forward, VMware provided 2013 full year guidance for revenues to be in the range of $5.23 billion to $5.35 billion, representing expected growth of between approximately 14 percent to 16 percent over 2012.
During VMware's earnings call, CEO Pat Gelsinger was asked about his expectations for growth in server virtualization workloads. Gelsinger noted that today there is a range of estimates ranging from 50 to 60 percent on virtual workload penetration.
"Our expectation is we can continue to drive that number and we do see that we can take it to 90 percent plus," Gelsinger said. "So even in core virtualization, we believe we’re far from done."