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VMware (VMW) Tumbles After Downbeat Revenue Guidance

 January 28, 2013 04:21 PM
 


(By Balachander) VMware Inc. (NYSE: VMW) issued revenue guidance that trailed market expectations and shares of the provider of virtualization-based cloud infrastructure services tumbled 10.5 percent in extended trading on Monday.

The company, however, posted better-than-earnings for the fourth quarter.

Net income increased 3 percent to $206 million.

Non-GAAP earnings per share jumped 31 percent to 81 cents, topping Wall Street projections of 78 cents.

Revenue climbed 22 percent to $1.29 billion, versus consensus estimate of $1.28 billion.

License and Services revenue jumped 16 percent and 27 percent, respectively.

[Related -VMware, Inc. (NYSE:VMW): Set To Become The Biggest Beneficiary Of Hybrid Cloud]

Looking ahead for the first quarter, VMware forecasts revenue between $1.170 billion and $1.190 billion, while analysts expect $1.25 billion.

For the full year, the company expects revenue between $5.23 billion and $5.35 billion, while analysts expect $5.42 billion.

The stock, which has been trading in the 52-week range of $79.46 to $118.79, ended at $98.32 on Monday.

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