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Home > Software > VMware reports third quarter financial results

VMware reports third quarter financial results

VMware announced that the company's revenue for the third quarter of 2021 was $2.86 billion, an increase of 8% year-over-year.

Erdem Yasar by Erdem Yasar
November 26, 2020
in Software
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Enterprise software innovator, VMware announced financial results for the third quarter of the fiscal year 2021. According to the announcement, the company’s revenue for the quarter was $2.86 billion, which increased 8% from the previous year’s third quarter. VMware also stated that subscription, SaaS, and license revenue was $1.32 billion, a 10% year-over-year increase. Subscription and SaaS revenue for the quarter was $676 million, an increase of 44% year-over-year, which represents 24% of the total revenue.

Total revenue growth of 8%

Pat Gelsinger, CEO, VMware
Pat Gelsinger, CEO, VMware

According to the announcement, VMware’s GAAP net income for the quarter was $434 million, or $1.02 per diluted share, compared to $407 million, or $0.96 per diluted share, compared to the third quarter of the fiscal year 2020. GAAP operating income for the third quarter was $428 million, an increase of 15% from the third quarter of fiscal 2020. The company also stated that it is raising full-year fiscal 2021 total revenue guidance to $11.7 billion and increasing GAAP net income per diluted share to between $4.17 and $4.27 with non-GAAP net income per diluted share of $7.03. Pat Gelsinger, CEO, VMware, said,

“Q3 was another good quarter for VMware, and we’re pleased with our results. As customers navigate through these unprecedented times, our focus remains on delivering the digital foundation for an unpredictable world. We continue to shape the future in areas that are top priority for every business–from app development to multi-cloud to security and digital workspaces.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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