VMware reported $3.41 billion in revenue for the quarter ended July 2023, representing a year-over-year increase of 2.2%. EPS of $1.83 for the same period compares to $1.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.39 billion, representing a surprise of +0.58%. The company delivered an EPS surprise of +10.24%, with the consensus EPS estimate being $1.66.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how VMware performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Subscription and SaaS: $1.26 billion compared to the $1.24 billion average estimate based on four analysts. The reported number represents a change of +33.5% year over year.
- Revenue- License: $619 million compared to the $614.27 million average estimate based on four analysts. The reported number represents a change of -22.2% year over year.
- Revenue- Services: $1.53 billion compared to the $1.52 billion average estimate based on four analysts. The reported number represents a change of -4.2% year over year.
View all Key Company Metrics for VMware here>>>Shares of VMware have returned +5.6% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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VMware (VMW) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
VMware reported $3.41 billion in revenue for the quarter ended July 2023, representing a year-over-year increase of 2.2%. EPS of $1.83 for the same period compares to $1.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.39 billion, representing a surprise of +0.58%. The company delivered an EPS surprise of +10.24%, with the consensus EPS estimate being $1.66.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how VMware performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Subscription and SaaS: $1.26 billion compared to the $1.24 billion average estimate based on four analysts. The reported number represents a change of +33.5% year over year.
- Revenue- License: $619 million compared to the $614.27 million average estimate based on four analysts. The reported number represents a change of -22.2% year over year.
- Revenue- Services: $1.53 billion compared to the $1.52 billion average estimate based on four analysts. The reported number represents a change of -4.2% year over year.
View all Key Company Metrics for VMware here>>>Shares of VMware have returned +5.6% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.