5 Big Takeaways From VMware’s Earnings
VMware’s nearly double-digit quarterly sales growth is continuing as the virtualization and hybrid cloud software superstar reported total revenue of $3.14 billion for its second fiscal quarter, up 9 percent year over year.
“Our customers are evolving their strategies from a ‘cloud-first’ to a ‘cloud-smart’ philosophy where they are picking the right clouds and cloud services for the right workload, and turning to a multi-cloud environment,” said VMware’s CEO Raghu Raghuram (pictured) during the company’s second quarter earnings report last week.
VMware’s top executives discussed not only financial numbers, but took a deep dive on important cloud partnership and major upcoming changes to the company such as providing for the first time an official timeframe for VMware’s spin-off from Dell Technologies.
CRN breaks down five of the biggest takeaways from VMware’s earnings results, the subsequent stock drop, and the most important executives remarks that investors, channel partners and customers need to know.