VMware’s Q1 Results
|VMware CEO Pat Gelsinger.
Photo credit: Cody Glenn/Web Summit via Sportsfile, under Creative Commons license
Cloud computing company VMware just released its financial results for the first quarter of this year, indicating $2.7 billion in quarterly revenue, up 12% year-over-year. Net income for the quarter came at $386 million, up slightly from $380 million in the same quarter of last year. Operating cash flow for the quarter amounted to $1.37 billion. “In these unprecedented times, we delivered solid performance and strong execution in Q1 FY21,” VMware’s CEO, Pat Gelsinger, noted in a press statement.
For the first quarter, VMware’s Subscription and SaaS revenue grew 39% year-over-year, having amounted to $572 million. Licensing revenue also grew 16% year-over-year during the quarter.