VMware, Inc. (NYSE:VMW) has reported its first quarter financial results with $1.36 billion in revenue and $199 million in earnings (46 cents a share). The non-GAAP earnings were 80 cents a share. Wall Street was expecting earnings of 79 cents a share on $1.35 billion in revenue.
VMware outlook for the year is at $5.94 billion and $6.1 billion in revenue. VMware is projecting revenues between $1.42 billion and $1.46 billion for the second quarter. In the first quarter, VMware completed its acquisition of AirWatch and launched virtual storage software.
VMware’s license revenue for the quarter was $561 million, which is up from $488 million a year ago. Services revenue in the quarter was $799 million, up from $703 million a year ago. International revenue was 52.3% of sales and was flat compared to a year ago. VMware ended the quarter with $6.62 billion in cash and equivalents.