VMware’s has posting strong results for the third quarter of 2012 ending 30 September, with revenues of $1.13 billion, an increase of 20% from the third quarter of 2011.
Operating income for Q3 was $190 million, an increase of 5% from the third quarter of 2011. Non-GAAP operating income for the third quarter was $365 million, an increase of 28% from the third quarter of 2011.
Net income for the period was $157 million, or $0.36 per diluted share, compared to $178 million, or $0.41 per diluted share, for the third quarter of 2011. Non-GAAP net income for the quarter was $303 million, or $0.70 per diluted share, compared to $230 million, or $0.53 per diluted share, for the third quarter of 2011.
Cash, cash equivalents and short-term investments were $4.4 billion and unearned revenue was $3.0 billion as of September 2012.
License revenues were $491 million, an increase of 11% from 2011. Service revenues, which include software maintenance and professional services, were $643 million for third quarter of 2012, an increase of 29% from 2011.
Carl Eschenbach, chief operating officer and co-president, VMware (pictured), said: "We delivered a solid quarter despite tough macroeconomic conditions. The quarter went as expected and we achieved record quarterly results for total revenue and non-GAAP operating income. Fourth quarter revenues are expected to be in the range of $1.26 and $1.29 billion. Annual 2012 revenues are expected to be in the range of $4.572 and $4.602 billion, an increase of 21.4% to 22.2% from 2011. Annual license revenues are expected to grow between 12.8% and 13.8%."
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