VMware Reports $2.17B 2Q 2019 Revenue, Up 13% YoY

News Wire Feed Light Reading 8/23/2018

PALO ALTO, Calif. -- VMware, Inc., a leading innovator in enterprise software, today announced financial results for the second quarter of fiscal year 2019:

Revenue for the second quarter was $2.17 billion, an increase of 13% from the second quarter of fiscal 2018.
License revenue for the second quarter was $900 million, an increase of 15% from the second quarter of fiscal 2018.
GAAP net income for the second quarter was $644 million, including a gain of $231 million on an investment in Pivotal Software, or $1.56 per diluted share, up 58% per diluted share compared to $406 million, or $0.98 per diluted share, for the second quarter of fiscal 2018. Non-GAAP net income for the second quarter was $638 million, or $1.54 per diluted share, up 14% per diluted share compared to $559 million, or $1.35 per diluted share, for the second quarter of fiscal 2018.
GAAP operating income for the second quarter was $509 million, an increase of 20% from the second quarter of fiscal 2018. Non-GAAP operating income for the second quarter was $735 million, an increase of 9% from the second quarter of fiscal 2018.
Operating cash flows for the second quarter were $787 million. Free cash flows for the second quarter were $726 million.
Total revenue plus sequential change in total unearned revenue grew 13% year-over-year.
License revenue plus sequential change in unearned license revenue grew 19% year-over-year.

“Q2 was another strong quarter as we continue to see good momentum across our product and services portfolio in every region,” commented Pat Gelsinger, chief executive officer, VMware. “As we begin another exciting VMworld season, customers are increasingly relying on VMware to be their essential, ubiquitous digital foundation enabling their business transformation.”

“Our results in Q2 were driven by successful execution of our strategy and strong operational performance across the business,” said Zane Rowe, executive vice president and chief financial officer, VMware. “Product license bookings grew double-digits year-over-year in all major product categories.”

VMware Inc. (NYSE: VMW)