Shares of cloud computing and virtualization technology company VMware, Inc. (VMW) are down more than 9% Friday morning after the company’s second quarter results missed analysts’ view.
Net income for the second quarter was $411 million, or $0.97 per share, down 8% from $447 million, or $1.06 per share in the same quarter a year ago.
Excluding items, earnings were $1.75 per share. This compares with the average estimate of 22 analysts polled by Thomson Reuters at $1.64 per share.
Revenue for the quarter increased 9% year-over-year to $3.14 billion. The consensus estimate was for $3.1 billion.
VMW is at $143.99 currently. It has traded in the range of $126.79- $172 in the last one year.
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