VMware Stock Struggles Despite 2Q Earnings Surprise

Proactive Investors2023-09-01

VMware Inc shares slid after hours Thursday despite a second-quarter earnings beat.

The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to analyst expectations of $1.71 per share on revenue of $3.46 billion.

Subscription and software-as-a-service revenue for the quarter was $1.26 billion, an increase of 34% year-over-year.

“We delivered solid Q2 results. Our customers continue to invest in our Multi-Cloud offerings as they modernize their infrastructure to run enterprise, cloud-native, and new AI workloads,” CEO Raghu Raghuram said in a statement.

Raghuram also talked up the company’s work in artificial intelligence.

“At the recent VMware Explore Las Vegas, we unveiled new offerings including the next evolution of VMware Cloud, NSX+, vSAN Max, and an enhanced Tanzu Application Platform, all designed to help customers innovate faster and reduce total cost of ownership. We also introduced VMware Private AI Foundation with NVIDIA to accelerate AI-enabled applications in the enterprise.”

VMware stock fell 1.4% in extended trading to $166.43.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

3

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1131589335?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-09-01 07:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1131589335","market":"us","top_or_hot":-1,"title":"VMware Stock Struggles Despite 2Q Earnings Surprise","media":"Proactive Investors","content":"<html><head></head><body><p>VMware Inc shares slid after hours Thursday despite a second-quarter earnings beat. </p><p style=\"text-align: left;\">The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to analyst expectations of $1.71 per share on revenue of $3.46 billion. </p><p style=\"text-align: left;\">Subscription and software-as-a-service revenue for the quarter was $1.26 billion, an increase of 34% year-over-year. </p><p style=\"text-align: left;\">“We delivered solid Q2 results. Our customers continue to invest in our Multi-Cloud offerings as they modernize their infrastructure to run enterprise, cloud-native, and new AI workloads,” CEO Raghu Raghuram said in a statement. </p><p style=\"text-align: left;\">Raghuram also talked up the company’s work in artificial intelligence. </p><p style=\"text-align: left;\">“At the recent VMware Explore Las Vegas, we unveiled new offerings including the next evolution of VMware Cloud, NSX+, vSAN Max, and an enhanced Tanzu Application Platform, all designed to help customers innovate faster and reduce total cost of ownership. We also introduced VMware Private AI Foundation with NVIDIA to accelerate AI-enabled applications in the enterprise.”</p><p style=\"text-align: left;\">VMware stock fell 1.4% in extended trading to $166.43. </p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae9dd821b9b47d3d81ab020abd5818b6\" tg-width=\"857\" tg-height=\"622\"/></p></body></html>","source":"lsy1673923583024","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>VMware Stock Struggles Despite 2Q Earnings Surprise</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVMware Stock Struggles Despite 2Q Earnings Surprise\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-01 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.proactiveinvestors.com/companies/news/1025178/vmware-stock-struggles-despite-2q-earnings-surprise-1025178.html><strong>Proactive Investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>VMware Inc shares slid after hours Thursday despite a second-quarter earnings beat. The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to ...</p>\n\n<a href=\"https://www.proactiveinvestors.com/companies/news/1025178/vmware-stock-struggles-despite-2q-earnings-surprise-1025178.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VMW","symbol_name":"威睿","start_time":0,"source_url":"https://www.proactiveinvestors.com/companies/news/1025178/vmware-stock-struggles-despite-2q-earnings-surprise-1025178.html","article_id":"1131589335","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1131589335","pubTimestamp":1693525084,"columns":[],"sourceInfo":{"source_id":"lsy1673923583024","name":"Proactive Investors"},"weMediaInfo":null,"summary":"VMware Inc shares slid after hours Thursday despite a second-quarter earnings beat.The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to an","collect":0,"end_time":0,"defaultTopTitle":"proactiveinvestors.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"VMW":"威睿"},"translate_title":"尽管第二季度收益出人意料，VMware股票仍在挣扎","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VMW":1.1},"content_text":"VMware Inc shares slid after hours Thursday despite a second-quarter earnings beat. The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to analyst expectations of $1.71 per share on revenue of $3.46 billion. Subscription and software-as-a-service revenue for the quarter was $1.26 billion, an increase of 34% year-over-year. “We delivered solid Q2 results. Our customers continue to invest in our Multi-Cloud offerings as they modernize their infrastructure to run enterprise, cloud-native, and new AI workloads,” CEO Raghu Raghuram said in a statement. Raghuram also talked up the company’s work in artificial intelligence. “At the recent VMware Explore Las Vegas, we unveiled new offerings including the next evolution of VMware Cloud, NSX+, vSAN Max, and an enhanced Tanzu Application Platform, all designed to help customers innovate faster and reduce total cost of ownership. We also introduced VMware Private AI Foundation with NVIDIA to accelerate AI-enabled applications in the enterprise.”VMware stock fell 1.4% in extended trading to $166.43.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1131589335","isCrawlerRequest":true}