VMware Inc. (VMW: Quote) reported fourth quarter adjusted net income of $0.81 per share after the close Monday, compared to $0.62 per share in the previous year. The consensus estimate was for EPS of $0.78. Revenues grew 22 percent to $1.29 billion from $1.06 billion last year. Analysts estimated revenues of $1.28 billion.
VMware expects first quarter revenues of $1.17 billion to $1.19 billion. However, analysts currently expect the company to report revenue of $1.25 billion.
VMware has gapped open dramatically lower Tuesday and is now down 21.30 at $77.02 on strong volume. The stock has dropped below both its 50 and 200-day moving averages and has plunged to a new low for the year.
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by RTT Staff Writer
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