VMWARE Reports FY2024 Q2 Earnings Results for Period Ending July 31 2023
September 14, 2023
🌥️Earnings Overview
On August 31 2023, VMWARE ($NYSE:VMW) announced their earnings results for Q2, ending on July 31 2023. The total revenue of USD 3408.0 million demonstrated a 2.2% year-on-year growth, while their net income rose by 37.5%, amounting to USD 477.0 million.
Market Price
On Thursday, VMWARE reported their fiscal year 2023 Q2 earnings results for the period ending July 31, 2023. The results were impressive, with the stock opening at $166.5 and closing at $168.8, representing a 1.3% increase from the previous closing price of 166.7. The company also reported that it had strong growth in its cloud and software-as-a-service businesses, which helped to drive the strong financial performance. This is despite the fact that the majority of its customers are still located in the United States and Europe. The company highlighted that it has seen strong growth in its international markets, indicating that it is well positioned for continued success in the coming quarters.
Overall, the results from VMWARE’s Q2 fiscal 2023 earnings report show that the company is on a positive trajectory and well positioned to continue to deliver impressive results. Investors were also pleased with the news, as evidenced by the stock’s 1.3% increase from its previous close. With continued focus on expanding into international markets and increasing its presence in cloud and software-as-a-service businesses, VMWARE is set up for a promising future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vmware. VMWARE_Reports_FY2024_Q2_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 13.61k | 1.43k | 9.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vmware. VMWARE_Reports_FY2024_Q2_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Operations | Investing | Financing |
| 5.09k | -446 | -1.09k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vmware. VMWARE_Reports_FY2024_Q2_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 32.2k | 29.65k | 5.9 |
Key Ratios Snapshot
Some of the financial key ratios for Vmware are shown below. VMWARE_Reports_FY2024_Q2_Earnings_Results_for_Period_Ending_July_31_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.3% | 4.7% | 15.9% |
| FCF Margin | ROE | ROA |
| 34.3% | 61.3% | 4.2% |
Analysis
GoodWhale conducted an analysis of VMWARE‘s wellbeing, using our proprietary Star Chart. According to the Star Chart, VMWARE is strong in profitability and medium in growth. However, it is weak in assets and dividend. Despite its lower scores in these areas, VMWARE has an overall health score of 8/10 when it comes to its cashflows and debt, meaning it is capable of safely riding out any economic crisis without the risk of bankruptcy. Our analysis also revealed that VMWARE is classified as a ‘sloth’ – a type of company that has achieved revenue or earnings growth slower than the overall economy. With this in mind, we believe that value investors might be attracted to VMWARE’s stock due to its relatively low price and strong balance sheet. Additionally, those looking for a long-term, steady investment may also be interested in VMWARE as it’s unlikely to experience wild swings in stock prices. More…
Peers
VMware Inc is a leading provider of virtualization and cloud infrastructure solutions. Its competitors include GSS Infotech Ltd, Venzee Technologies Inc, ProStar Holdings Inc.
– GSS Infotech Ltd ($BSE:532951)
GSS Infotech Ltd. is a global provider of software and IT services. The company offers a range of services, including application development, enterprise resource planning, and infrastructure management. It also provides software solutions for the banking, financial services, and insurance industries. GSS Infotech has a market cap of 4.49 billion as of 2021 and a return on equity of 12.46%. The company was founded in 1997 and is headquartered in Hyderabad, India.
– Venzee Technologies Inc ($TSXV:VENZ)
Assuming you are writing as of 2022:
Venzee Technologies Inc has a market cap of 2.47M as of 2022. The company’s return on equity is 1422.25%. Venzee Technologies is a software company that provides a platform to streamline the exchange of product data between retailers and brands.
– ProStar Holdings Inc ($TSXV:MAPS)
ProStar Holdings Inc is a provider of geospatial data and related services for the energy industry. The company’s market cap is $22.79 million and its ROE is -67.74%. ProStar’s geospatial data and services are used by oil and gas companies, government agencies, and other organizations involved in the exploration, production, and transportation of energy.
Summary
VMWARE‘s Q2 FY2024 results showed strong growth from the same period last year, with total revenue rising 2.2% to USD 3408.0 million and net income increasing 37.5% to USD 477.0 million. This is an encouraging sign for investors, indicating that the company is continuing to perform well and has strong fundamentals. While VMWARE’s stock price is up since the release of these earnings figures, investors may want to remain cautious given the uncertain economic environment. Nevertheless, VMWARE’s strong results indicate that it remains a solid investment option for those looking for long-term returns.
Related Posts
Recent Posts
