VMware (VMW) 4Q Profit Gains 67 Percent

January 23, 2012, 11:06 PM

VMware Inc. (NYSE:VMW) said on Monday that its fourth quarter profit increased 67 percent as companies purchased more software to help build better servers.

In the fourth quarter, the company said its earnings were $200.4 million, or 46 cents per share, compared to earnings of $119.9 million, or 28 cents per share, a year previously. Excluding one time items, adjusted earnings were 62 cents per share. Analysts expected 60 cents per share.

Revenue rose 27 percent to $1.06 billion. Analysts predicted revenue of $1.05 billion.

“As customers continue to drive significant IT transformation, our task remains in providing solutions that go beyond cost reduction, yielding business and competitive value.” Paul Maritz, chief executive officer, said in a statement.

VMware shares jumped $4.04 to $90.04 in after market trading.

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