VMware reports Q1 2012 Results

VMware has announced financial results for the first quarter of 2012. Revenues for the first quarter were $1.06 billion, Operating income was $217 million, Non-GAAP operating income was $344 million and Net income was $191 million, whereas Licence revenues for the first quarter of 2012 were $482 million, an increase of 15% from 2011.  Service revenues, which include software maintenance and professional services, were $573 million for 2012, an increase of 35% from 2011. 

“The quarter’s solid performance across our portfolio underscores the value that VMware is providing customers as they work to transform their IT organizations,” said Paul Maritz, Chief Executive Officer, VMware.   

“VMware is well positioned for growth as the leader in virtualization and cloud infrastructure. The second quarter 2012 revenues are expected to be in the range of $1.10 and $1.12 billion. 

Annual 2012 revenues are expected to be in the range of $4.525 and $4.625 billion, an increase of 20% to 23% from 2011, and annual licence revenues are expected to grow between 12% and 16%,” said Mark Peek, Chief Financial Officer, VMware.