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VMware Reports Their Fiscal Year 2022 Third Quarter Results

VMware, Inc., a leading innovator in enterprise software, announced financial results for the third quarter of fiscal year 2022:

  • Revenue for the third quarter was $3.19 billion, an increase of 11% from the third quarter of fiscal 2021.
  • The combination of subscription and SaaS and license revenue was $1.53 billion, an increase of 16% from the third quarter of fiscal 2021.
  • Subscription and SaaS revenue for the third quarter was $820 million, an increase of 21% year-over-year.
  • Subscription and SaaS ARR for the third quarter was $3.31 billion, an increase of 25% year-over-year.
  • GAAP net income for the third quarter was $398 million, or $0.94 per diluted share, down 8% per diluted share compared to $434 million, or $1.02 per diluted share, for the third quarter of fiscal 2021. Non-GAAP net income for the third quarter was $725 million, or $1.72 per diluted share, up 3% per diluted share compared to $704 million, or $1.66 per diluted share, for the third quarter of fiscal 2021.
  • GAAP operating income for the third quarter was $519 million, an increase of 21% from the third quarter of fiscal 2021. Non-GAAP operating income for the third quarter was $935 million, an increase of 5% from the third quarter of fiscal 2021.
  • Operating cash flow for the third quarter was $1.09 billion. Free cash flow for the third quarter was $984 million.
  • RPO for the third quarter totaled $11.12 billion, up 9% year-over-year.

"We are pleased with our continued strong performance in Q3. This quarter, as we unveiled many new offerings at VMworld, we showcased how we are helping customers transform their businesses today and that our innovation engine is thriving," said Raghu Raghuram, CEO, VMware. "Our mission is to be the trusted software foundation to accelerate our customers' innovation without compromise. We are committed to helping organizations unlock the full potential of multi-cloud."

"We continued healthy revenue growth and profitability in Q3, with Subscription and SaaS ARR increasing 25% year-over-year to $3.3 billion," said Zane Rowe, executive vice president and CFO, VMware. "Our performance in Q3 reflects strong year-over-year growth in major product categories as we deliver compelling value to our customers."

Business Highlights & Strategic Announcements

  • At VMworld 2021, the company articulated its strategy to help customers navigate the multi-cloud era with VMware Cross-Cloud services. This family of integrated services will help deliver a faster and smarter path to cloud for digital businesses. Announcements included:
    • New advancements in VMware Cloud, the industry's first and only cloud-agnostic computing infrastructure that enables customers to move their apps to the cloud quickly and efficiently.
    • The VMware Sovereign Cloud initiative, where VMware is partnering across its VMware Cloud Provider Partners to deliver cloud services on sovereign digital infrastructure to customers in regulated industries.
    • Advancements to the VMware Tanzu portfolio, including Tanzu Application Platform, currently in beta, which delivers a superior developer experience for enterprises building and deploying apps and APIs on any Kubernetes.
    • The introduction of VMware Edge, a product portfolio that will enable organizations to run, manage and better secure edge-native apps across multiple clouds, anywhere.
  • VMware Cloud on AWS GovCloud (US) achieved FedRAMP Agency Authority to Operate at the High Impact Level. FedRAMP is a mandatory U.S. government-wide program that provides a standardized approach and baseline requirements for security assessment, authorization and monitoring of cloud products.
  • VMware unveiled enhancements to its Telco Cloud Platform designed to help service providers speed their multi-cloud transformation, as well as several updates to its Radio Access Network (RAN) portfolio of products and introduced VMware RAN Intelligent Controller.
  • The Company announced a collaboration with eero, an Amazon company, on work-from-home capabilities that will boost remote network connectivity while extending critical security services to devices connecting to an at-home corporate network.
  • In the third quarter, VMware received recognition from leading industry analyst firms:
    • VMware was positioned as a Leader in "The Forrester New WaveTM: Zero Trust Network Access, Q3, 2021."
    • VMware was also once again named a Leader in the August 2021 Gartner® Magic QuadrantTM for Unified Endpoint Management Tools, August 2021.
    • VMware once again was named a Leader in the September 2021 Gartner® Magic QuadrantTM for WAN Edge Infrastructure, September 2021.
    • VMware was once again ranked No. 1 in the September 2021 IDC report, "Worldwide Cloud System and Service Management Software Market Shares, 2020: Growth Continues for Top Vendors."
  • VMware joined the Valuable 500, as part of its commitment to diversity inclusion. The Valuable 500 is a global business collective that is igniting systemic change and unlocking the business, social and economic value of more than 1 billion people with disabilities around the world.
  • VMware received recognition for its ESG leadership by being invited to the Dow Jones Sustainability World Index (DJSI World) and Dow Jones Sustainability North America Index (DJSI North America)-one of the world's leading ESG benchmarks-for the second consecutive year.
Published Wednesday, November 24, 2021 8:23 AM by David Marshall
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