VMware reports Third Quarter 2013 Results

VMware(NYSE:VMW) has announced financial results for the third quarter of 2013. In this quarter, the company achieved $1.29-billion revenues, showing an increase of 14% from the third quarter of 2012.  Operating income for the third quarter was $287 million, an increase of 51% from the third quarter of 2012. Non-GAAP operating income for the third quarter was $436 million, an increase of 19% from the third quarter of 2012.
 
Net income for the third quarter was $261 million or $0.60 per diluted share. Non-GAAP net income for the quarter was $363 million, or $0.84 per diluted share, up 20% per diluted share compared to $303 million, or $0.70 per diluted share, for the third quarter of 2012.
 
Operating cash flows for the third quarter were $637 million, an increase of 46% from the third quarter of 2012.
 
Pat Gelsinger, CEO, VMware, said, VMware continues to build momentum globally, because we are uniquely positioned to help our customers transform to the mobile-cloud era of computing. Customers are making long-term commitments to VMware to help them liberate resources from their current environments and power their businesses into the future.
 
We are seeing strong customer demand for new solutions such as the software-defined data center, and I’m excited about our prospects for the remainder of 2013 and beyond, said Jonathan Chadwick, CFO, VMware.
 
Additionally, cash equivalents and short-term investments were $5.84 billion, and unearned revenues were $3.64 billion, as of September 30, 2013.