Enterprise software provider, VMware announced financial results for the fourth quarter and full fiscal year 2022. During the period, the company has completed a spin-off from Dell Technologies, which provided better agility to execute its multi-cloud strategy, a simplified capital structure and governance model, and additional operational and financial flexibility. The company also announced VMware Carbon Black Cloud Managed Detection and Response for endpoints and workloads.
$12.85 billion total revenue full year
VMware announced strong financial results for the quarter and the full year. The company increased its revenue for both the quarter and the full year.
Fourth quarter results:
- Revenue for the fourth quarter was $3.53 billion, an increase of 7% from the fourth quarter of fiscal 2021.
- The combination of subscription and SaaS and license revenue was $1.90 billion, an increase of 11% from the fourth quarter of fiscal 2021.
- Subscription and SaaS revenue for the fourth quarter was $868 million, an increase of 23% year-over-year.
- GAAP net income for the fourth quarter was $586 million, or $1.39 per diluted share, down 26% per diluted share compared to $791 million, or $1.87 per diluted share, for the fourth quarter of fiscal 2021. Non-GAAP net income for the fourth quarter was $855 million, or $2.02 per diluted share, down 9% per diluted share compared to $936 million, or $2.21 per diluted share, for the fourth quarter of fiscal 2021.
- GAAP operating income for the fourth quarter was $783 million, a decrease of 22% from the fourth quarter of fiscal 2021. Non-GAAP operating income for the fourth quarter was $1.14 billion, flat from the fourth quarter of fiscal 2021.
Full year 2022
- Revenue for fiscal year 2022 was $12.85 billion, an increase of 9% from fiscal 2021.
- The combination of subscription and SaaS and license revenue was $6.33 billion, an increase of 13% from fiscal year 2021.
- Subscription and SaaS revenue for fiscal year 2022 was $3.20 billion, an increase of 24% from fiscal year 2021.
- Subscription and SaaS ARR exiting fiscal year 2022 was $3.58 billion, an increase of 24% from fiscal year 2021.
- GAAP net income for fiscal year 2022 was $1.82 billion, or $4.31 per diluted share, down 11% per diluted share compared to $2.06 billion, or $4.86 per diluted share, for fiscal year 2021. Non-GAAP net income for fiscal year 2022 was $3.06 billion, or $7.25 per diluted share, up 1% per diluted share compared to $3.05 billion, or $7.20 per diluted share, for fiscal year 2021.
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Raghu Raghuram, CEO of VMware GAAP operating income for fiscal year 2022 was $2.39 billion, flat from fiscal year 2021. Non-GAAP operating income for fiscal year 2022 was $3.92 billion, an increase of 3% from fiscal year 2021.
Raghu Raghuram, CEO of VMware said,
« The growth in customer demand for our multi-cloud solutions was reflected in our Q4 results. We are at an exciting time in our industry, as enterprises large and small transform and modernize to become software-based, digital enterprises. We are well-positioned to help our customers build, run and secure their applications in this multi-cloud environment. »