VMWARE Reports Q2 Earnings Results for FY2024 Ending July 31 2023
September 3, 2023
🌥️Earnings Overview
VMWARE ($NYSE:VMW): On August 31 2023, VMWare released its earnings results for the second quarter of FY2024 (ending July 31 2023). Overall revenue increased by 2.2% year over year, coming to a total of USD 3408.0 million. Additionally, net income rose by 37.5%, totaling USD 477.0 million.
Stock Price
On Thursday, VMWARE released its quarterly financial results for the fiscal year ending July 31 2023. The company reported that its stock opened at $166.5 and closed at $168.8, up by 1.3% from the prior closing price of 166.7. Overall, the company reported a strong quarter with higher-than-expected revenue gains and an increase in profits. This growth was attributed to a surge in demand for cloud services and virtualization software, as well as the increasing adoption of digital transformation initiatives by businesses.
Looking ahead, VMWARE expects to continue to drive growth through its product and service offerings as well as its focus on expanding its customer base. The company is also exploring new opportunities in emerging markets as well as leveraging artificial intelligence and machine learning capabilities to improve customer experiences. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vmware. 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. 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. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 32.2k | 29.65k | 5.92 |
Key Ratios Snapshot
Some of the financial key ratios for Vmware are shown below. 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
At GoodWhale, we recently conducted an analysis of VMWARE‘s financials. Our Risk Rating for the company is medium, which reflects our opinion that VMWARE is a medium risk investment in terms of financial and business aspects. In our analysis of VMWARE’s income sheet and balance sheet, GoodWhale detected two risk warnings. To find out more details about the risk warnings, we recommend that you register with us to gain access to our full report. Our report provides a comprehensive and up to date analysis of VMWARE’s financials that can help inform your investment decisions. 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 reported strong Q2 FY2024 earnings on August 31 2023. Total revenue increased 2.2% year over year to USD 3408.0 million, and net income increased 37.5% to USD 477 million. This demonstrates the company’s healthy financial position and is a positive sign for investors. VMWARE’s strategic investments in new technologies such as virtualization, cloud computing, and artificial intelligence have enabled them to capitalize on growth opportunities and drive strong financial performance.
In addition, the company has been able to maintain a healthy balance sheet by managing expenses and reducing capital expenditures. Going forward, investors should continue to monitor VMWARE’s progress in order to capitalize on further upside potential.
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