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VMware revenue beats estimates, but shares dip on sales delays

23
Apr
2014

Virtualization software maker VMware Inc reported better-than-expected first-quarter revenue and forecast current-quarter revenue largely above analysts’ average estimate as more customers opt for its cloud infrastructure services. VMware has not lost any of those deals to competitors, Chief Operating Officer Carl Eschenbach said on a conference call with analysts. VMware, in which data storage equipment maker EMC Corp holds an 80 percent stake, forecast current-quarter revenue of $1.43 billion to $1.47 billion. Analysts on average were expecting revenue of $1.44 billion, according to Thomson Reuters I/B/E/S. “We’re off to a solid start in Q2 and have already closed a number of ELAs in April,” Eschenbach said.

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