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April 22, 2015

VMware’s Q1 2015: revenues jump but net income drops

Virtualisation firm Q1 revenues reach $1.51.

By Alexander Sword

VMware has reported its Q1 2015 results, showing a year-on-year revenue growth of 11 percent.

The period saw total revenues of $1.51 billion. License revenues rose 3 percent to $576 million, while license revenues plus sequential change in unearned license revenues stayed flat year-on-year.

The company also saw its GAAP operating income decrease 9 percent from Q1 2014 to $218 million, while non-GAAP operating income rose 7 percent to $451 million. The 2014 figures were affected by the acquisition of AirWatch, completed in Q1 2014.

In addition, GAAP net income was $196 million, a slight drop from $199 million for Q1 2014. Non-GAAP net income was $369 million.

"We started 2015 with solid Q1 results and one of the most significant product launches in our history, with the announcement of the industry’s first unified platform for the hybrid cloud," said Pat Gelsinger, chief executive officer, VMware.

"We’re pleased with our Q1 revenue growth of 13% on a constant currency basis," said Jonathan Chadwick, chief financial officer and chief operating officer, VMware.

Chadwick added: "We executed well in the first quarter and continued to broaden our portfolio with a range of products that will drive our growth in the future."

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