VMware, Inc. reported its financial results for its fourth quarter and full fiscal year 2018. Overall the company saw a good quarter and a good fiscal year. It’s stock did somewhat better throughout the quarter seeing spike and sell off but a general increase.
VMware, Inc. reported its financial results for its fourth quarter and full fiscal year 2018. Overall the company saw a good quarter and a good fiscal year. It’s stock did somewhat better throughout the quarter seeing spike and sell off but a general increase.
Looking at the numbers for the quarter, VMware saw revenue of $2.31 billion; license revenue was $1.07 billion. The company reported a GGAP net loss of $440 million or $1.09 per diluted share. These results included the tax expense connected to the recently passed Tax Cuts and Jobs Act. Non-GAAP net income was $691 million or $1.68 per diluted share. GAAP operating income was $648 million and non-GAAP operating income was reported at $862 million. Operating cash flow as reported as $847 million and free cash flow was $748 million.
Looking at the numbers for the fiscal year, revenue was $7.92 billion; license revenue being $3.19 million. Net income was $570 million GAAP (or $1.38 per diluted share); again GAAP results include the impact of the new tax law. According to the company, “An estimated $800 million of this tax relates to the international portion of our earnings, and an estimated $167 million of this tax relates to the re-measurement deferred taxes using lower U.S. tax rates.” Non-GAAP net income was $2.15 billion or $5.19 per dilute share. Operating income was $1.69 billion GAAP and $2.63 billion non-GAAP. Operating cash flow for the year was $3.21 billion with free cash flow being $2.95 billion.
For the quarter VMware announced that it had sixteen deals that were over $10 million. vSAN license bookings grew 100% year-on-year, pushing vSAN to a $600 million run-rate. NSX license bookings grew 24% YoY reaching a $1.4 billion run-rate. The company made a series of new announcements such as releasing VMware Cloud on AWS, its acquisition of the cloud-delivered SD-WAN company VeloCloud Networks, the latest version of VMware cloud foundation, 2.3, and general availability of VMware Pulse IoT Center. The company once again made it into Gartner’s Magic Quadrant for HCI.
Looking to the next quarter the company is expected revenue of $1.955 billion, $730 million from license revenue. For the next fiscal year, VMware is expected revenue of $8.725 billion, with $3.565 billion coming from license revenue.
Sign up for the StorageReview newsletter
