Cloud computing and virtualization technology company, VMware reported financial results for the third quarter of the fiscal year 2022. VMware’s revenue for the quarter was $3.19 billion, increased by 11% year-over-year. $1.53 billion of this revenue was from the combination of subscription and SaaS and license, an increase of 16% year-over-year. Subscription and SaaS revenue was $820 million, an increase of 21% from the third quarter of fiscal 2021.
$3.19 billion revenue
The company’s GAAP net income for the third quarter was $398 million, down 8% compared to $434 million for the third quarter of fiscal 2021. GAAP operating income for the period was $519 million, an 21% increase year-over-year. VMware’s operating cash flow was $1.09 billion.
Business highlights and announcements:
- At VMworld 2021, the company articulated its strategy to help customers navigate the multi-cloud era with VMware Cross-Cloud services. This family of integrated services will help deliver a faster and smarter path to the cloud for digital businesses. Announcements included:
- New advancements in VMware Cloud, the industry’s first and only cloud-agnostic computing infrastructure that enables customers to move their apps to the cloud quickly and efficiently.
- The VMware Sovereign Cloud initiative, where VMware is partnering across its VMware Cloud Provider Partners to deliver cloud services on sovereign digital infrastructure to customers in regulated industries.
- Advancements to the VMware Tanzu portfolio, including Tanzu Application Platform, currently in beta, which delivers a superior developer experience for enterprises building and deploying apps and APIs on any Kubernetes.
- The introduction of VMware Edge, a product portfolio that will enable organizations to run, manage, and better secure edge-native apps across multiple clouds, anywhere.
VMware Cloud on AWS GovCloud (US) achieved FedRAMP Agency Authority to Operate at the High Impact Level. FedRAMP is a mandatory U.S. government-wide program that provides a standardized approach and baseline requirements for security assessment, authorization, and monitoring of cloud products.
- VMware unveiled enhancements to its Telco Cloud Platform designed to help service providers speed their multi-cloud transformation, as well as several updates to its Radio Access Network (RAN) portfolio of products and introduced VMware RAN Intelligent Controller.
- The Company announced a collaboration with eero, an Amazon company, on work-from-home capabilities that will boost remote network connectivity while extending critical security services to devices connecting to an at-home corporate network.
Raghu Raghuram, CEO of VMware said,
« We are pleased with our continued strong performance in Q3. This quarter, as we unveiled many new offerings at VMworld, we showcased how we are helping customers transform their businesses today and that our innovation engine is thriving. Our mission is to be the trusted software foundation to accelerate our customers’ innovation without compromise. We are committed to helping organizations unlock the full potential of multi-cloud. »