VMware, Inc. (NYSE:VMW) reported stronger-than-expected earnings for its fourth quarter on Thursday.
The Palo Alto-based VWMWare, a leading innovator in enterprise software, announced fourth-quarter revenue was $2.59 billion, an increase of 16% from the fourth quarter of fiscal 2018.
License revenue for the fourth quarter was $1.23 billion, an increase of 21% from the fourth quarter of fiscal 2018.
GAAP net income for the fourth quarter was $502 million, including a loss of $38 million on an investment in Pivotal Software, or $1.21 per diluted share, compared to a GAAP net loss of $387 million, or $0.96 per diluted share, for the fourth quarter of fiscal 2018.
Fourth-quarter Non-GAAP net income was $823 million, or $1.98 per diluted share, up 23% per diluted share compared to $657 million, or $1.60 per diluted share, for the fourth quarter of fiscal 2018.
VMWare also revealed that operating cash flow for the fourth quarter was $1.01 billion. Free cash flow for the fourth quarter was $946 million
"Q4 was a terrific ending to a strong fiscal ’19 driven by broad-based strength across our diverse product portfolio and in all three geographies," commented CEO Pat Gelsinger.
"VMware is providing the essential ubiquitous software foundation for our customers’ digital transformations while we also work to drive positive global impact across our people, products and the planet."
Shares sprinted $8.81, or 5.1%, to $180.21
