Companies continuing to invest in cloud computing technology has paid off for VMware in the first quarter – the virtualisation software maker’s net income increased 52pc.
VMware’ revenues totalled US $1.06bn, an increase of 25.1pc from the first quarter of 2011.
Operating income amounted to US$217m, an increase of 41pc from the same period last year. Non-GAAP operating income for the first quarter reached US$344m, an increase of 36pc from the first quarter of 2011.
Net income for the first quarter totalled US$191m, or $0.44 per diluted share, compared to US$126m, or $0.29 per diluted share, in the year-ago period. Non-GAAP net income for the quarter reached US$287m, or US$0.66 per diluted share, compared to US$204m, or US$0.48 per diluted share, from the same time last year.
US revenues for the first quarter of 2012 grew 21pc to US$485m from 2011. International revenues rose 28pc to US$570m from 2011.
Licence revenues for the first quarter of 2012 were US$482m, an increase of 15pc from 2011. Service revenues, which include software maintenance and professional services, were US$573m for 2012, an increase of 35pc from 2011.
“The quarter’s solid performance across our portfolio underscores the value that VMware is providing customers as they work to transform their IT organisations,” said Paul Maritz, chief executive officer, VMware.