VMware (NASDAQ:VMW) is riding high on its fortunes and latest quarterly report of the company proves the same. The second quarter results of VMware are as strong as it gets. The revenue growth of the company is registered at 17.2 percent and the order bookings have hiked up to 24 percent.
The license agreements of the company, according to which VMware sells out extra products to the same client, have moved up to 37 percent, which is a phenomenal number. The count has been achieved keeping the total number of bookings in concern. The records show that the percentage of license agreements of VMware was 25 percent in the same duration a year ago.
According to the reports, the company has accounted for revenue of $1.46 billion this year. This is way higher than the last quarter results which were accounted for $1.43 billion. The net income has been calculated at $167 million, which is equivalent to 38 cents per share. This is above the $245 million recorded in the same duration of the last year.
When it comes to the cash, the company owns $6.64 billion. This is a hefty amount considering the competition that the company has in the market. The CFO of VMware, Jonathan Chadwick has stated that the company registered eight extra deals that accounted for $10 million. All this was done in the second quarter of the year.
The CEO of the company, Pat Gelsinger told the reporters:
“We continue to see strong performance across our business, further evidence that VMware is uniquely positioned as IT transitions from client server computing to the mobile cloud era. Across the board, customers are turning to VMware solutions to help chart an efficient path to the future without sacrificing the vital needs for security, availability and compliance required by all businesses.”
The vCloud service of VMware is expected to expand into the Asian market. This has been made possible through the partnerships of the company in China and Japan. The sales report of the company in the second quarter clearly depicts that the company is having a good time and the same is expected for the third quarter of the year. However, only the time will tell how the company copes up with the success in the second quarter and how it follows up the proceedings.
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