VMware Q1: Earnings Miss, 6% Revenue Growth, New Product Innovations & More
Portfolio Pulse from Lekha Gupta
VMware reported Q1 FY24 revenues of $3.28 billion, a 6% Y/Y increase but missing the consensus of $3.34 billion. Subscription and SaaS revenue increased 35% Y/Y to $1.22 billion, while non-GAAP EPS of $1.49 missed the consensus of $1.58. VMW shares closed lower by 1.72% at $133.94 on Thursday.
June 02, 2023 | 9:46 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
VMware's Q1 FY24 revenues missed consensus, with a 6% Y/Y increase to $3.28 billion. Subscription and SaaS revenue grew 35% Y/Y, while non-GAAP EPS missed expectations. VMW shares closed lower by 1.72%.
VMware's Q1 FY24 revenues missed the consensus, which is likely to negatively impact the stock price in the short term. The 6% Y/Y revenue growth and 35% Y/Y increase in Subscription and SaaS revenue show positive signs for the company, but the missed non-GAAP EPS expectations may overshadow these results. The 1.72% drop in VMW shares on Thursday indicates that the market has already reacted to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100