VMware Reports Better-Than-Expected Earnings, Share Buyback

on Tuesday after market close reported its fourth quarter results. The company earned $1.08 per share, a penny ahead of the $1.07 per share analysts expected. Revenue of $1.7 billion topped the $1.69 billion analysts expected. Net income for the fourth quarter was $326 million, a decrease of 2 percent compared to $335 million a year ago. During the fourth quarter, VMware spent $250 million on share buybacks and $700 million throughout the entire 2014. The company also issued guidance and expects its full year fiscal 2015 sales to be in a range of $6.64 billion to $6.76 billion (versus expectations of $6.85 billion), while earnings per share will fall in a range of $3.96 to $4.04 (versus expectations of $4.08 per share). First quarter sales are expected to be $1.49 billion to $1.51 billion, while earnings per share will fall in a range of $0.83 to $0.85 (versus expectations of $0.89 per share).