VMware Earnings Beat Expectations. Why Its Stock Is Tumbling.

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Revenue from the cloud business was lower than expected.


Yury Cherenkov/Dreamstime.com


VMware

shares are trading lower late Thursday after the enterprise software provider posted mixed results for its fiscal second quarter.

For the quarter ended July 30, VMware (ticker: VMW) reported revenue of $3.14 billion, in line with Street estimates. But investors may not have liked the component parts. 

License revenue, from the company’s traditional on premise software business,- was $738 million, up 3%, and ahead of the Street consensus forecast of $699 million. But subscription and software-as-a-service revenue—basically the company’s cloud business—was $776 million, up 23%, but

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