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%
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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