VMware Grows Real Revenues from Virtual Technology
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The virtualization business is big business, just ask VMware.
VMware reported second-quarter fiscal 2011 earnings late Tuesday with revenues coming in at $921 million. The second quarter revenue tally is a 37 percent year-over-year increase. Net Income was reported at $220 million, or $0.51 per share, up from $75 million, or $0.18 per share, in 2010.
Moving forward, VMware CFO Mark Peek provided third-quarter revenue guidance to be within a range of $915 million and $940 million, or a year-over-year growth of between 28 percent and 32 percent.
One of the key drivers for VMware moving forward will be its new vSphere 5 product line, which was announced earlier this month. With vSphere, VMware is expanding the performance, scalability and storage options for virtualization.