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LONDON, UK / ACCESSWIRE / June 23, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on VMware, Inc. (NYSE: VMW), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VMW, following the Company's announcement of its first quarter fiscal 2018 financial results on June 01, 2017. The virtualization software vendor reported better than expected revenue and earnings and raised its FY18 guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Technical & System Software industry. Pro-TD has currently selected Okta, Inc. (NASDAQ: OKTA) for due-diligence and potential coverage as the Company announced on June 07, 2017, its financial results for Q1 FY18 which ended on April 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Okta, Inc. when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VMW; also brushing on OKTA. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=VMW

http://protraderdaily.com/optin/?symbol=OKTA

Earnings Reviewed

For the first quarter ended May 05, 2017, VMware recorded revenue of $1.74 billion, reflecting an increase of 9% from Q1 FY17 revenue of $1.59 billion. The Company's revenue number came in ahead of Wall Street's expectations of $1.71 billion.

During Q1 FY18, VMware's License revenue grew 7% to $610 million compared to revenue of $572 million in Q1 FY17. The Company's Services revenue totaled $1.13 billion in the reported quarter compared to $1.02 billion in Q1 FY17.

VMware's GAAP operating income for Q1 FY18 was $238 million, reflecting an increase of 24% from operating income of $192 million in Q1 FY17. The Company's non-GAAP operating income for the reported quarter totaled $495 million, up 11% on a y-o-y basis.

For Q1 FY18, VMware reported GAAP net income of $232 million, or $0.56 per diluted share, compared to net income of $161 million, or $0.38 per diluted share, for Q1 FY18, with per diluted share income up 48%. The Company's non-GAAP net income for the reported quarter was $412 million, or $0.99 per diluted share, compared to $366 million, or $0.86 per diluted share, up 15% on a y-o-y basis and topping analysts' estimates of $0.95 per share.

Cash Matters

During Q1 FY18, VMware's operating cash flows were $775 million. Free cash flows for the quarter were $726 million. The Company's cash, cash equivalents, and short-term investments were $8.6 billion, and unearned revenue was $5.2 billion as of May 05, 2017.

In Q1 FY18, VMware's total revenue plus sequential change in total unearned revenue grew 10% on a y-o-y basis. Excluding the impact on unearned revenue from the sale of vCloud Air, total revenue plus sequential change in total unearned revenue grew 12% compared to the year ago corresponding period. The Company stated that License revenue plus sequential change in unearned license revenue grew 7% on a y-o-y basis.

During Q1 FY18, VMware completed the remaining $125 million in stock repurchases from its December authorization of $500 million. Additionally, the Company repurchased $300 million of stock in the reported quarter from Dell Technologies, with VMware taking delivery of 2.7 million shares in Q1 FY18 and expected to take the remaining 0.7 million shares early in Q2 FY18. The Company currently has $900 million remaining in its $1.2 billion repurchase authorization, which extends through the end of FY18.

Outlook

VMware raised its total revenue forecast for FY18 to approximately $7.61 billion and license revenue guidance to approximately $2.98 billion. The Company is forecasting FY18 non-GAAP operating margin to be approximately 32.5% and non-GAAP earnings per share of approximately $4.91 per share. VMware's cash flow from operations is expected to be approximately $2.7 billion. For Q2 FY18, VMware is projecting total revenue in the range of $1.84 billion and $1.89 billion. The Company's License revenue for the upcoming quarter is expected to be between $695 million and $725 million. VMware is estimating non-GAAP operating margin of approximately 30.5%, with non-GAAP earnings per share between $1.11 and $1.14 per share.

Stock Performance

On Thursday, June 22, 2017, the stock closed the trading session at $90.44, slightly rising 0.48% from its previous closing price of $90.01. A total volume of 1.04 million shares have exchanged hands. VMware's stock price soared 10.48% in the past six months and 48.77% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 14.87%. The stock is trading at a PE ratio of 30.30 and currently has a market cap of $36.78 billion.

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SOURCE: Pro-Trader Daily