VMware reports first quarter results

VMware reports the first quarter of fiscal year 2021 financial results. VMware announced that the revenue for the first quarter was $2.73 billion, an increase of 12% from the first quarter of the previous year. Subscription and SaaS and license revenue is also increased by 17% from the first quarter of fiscal 2020 to $1.23 billion. The combination of subscription and SaaS and license revenue plus sequential change in unearned subscription and SaaS and license revenue grew 16% year-over-year.

12% increase in revenue

VMware also stated that operating cash flow for the first quarter was $1.37 billion. Free cash flow for the first quarter was $1.29 billion. RPO for Q1 totaled $10.1 billion, up 19% year-over-year. Total revenue plus sequential change in total unearned revenue grew 6% year-over-year. Zane Rowe, executive vice president and CFO, VMware said,

“In these unprecedented times, we delivered a solid performance and strong execution in Q1 FY21. Ensuring the safety and well-being of our employees and addressing our customers’ rapidly changing needs have been our top priorities. We serve as an essential digital service to those customers who provide essential services, helping them scale efficiently and more securely. Q1 demonstrated our ability to drive a positive ROI and enhanced resilience for customers undergoing digital transformations. The quarter also highlighted VMware’s strengths and opportunities in a challenging economic environment.”