VMware Earnings Surge, But Miss Forecasts
VMware shares plunged as much as 27% in after-hours trading Monday after the virtualization software developer reported fourth-quarter sales that fell short of Wall Street forecasts and didn’t immediately give an earnings or revenue outlook for its current fiscal quarter. VMware gave up $21.20 to fall to $61.80 share after the company reported earnings of $78 million, or 19 cents a share, on revenue of $412 million. The company’s earnings more than doubled from the $31 million, or 9 cents a share, that VMware reported a year ago.
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