VMware reports 15% jump in Q4 revenues

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VMware has reported a record 15% rise in profits during the fourth quarter of 2014 to $1.07bn, mainly fuelled by sales of products including AirWatch, Cloud Management, NSX, Hybrid Cloud and Virtual SAN.

During the quarter, the virtualisation product provider generated $777m in license revenues, while its operating income dropped by 8% to $344m. Its net income reached $326m, a 2% drop when compared with the corresponding quarter last year.

VMware chief executive officer Pat Gelsinger said: "Customers continue to partner with VMware because we offer a new model for IT designed to rapidly and automatically deliver any app, anywhere, without sacrificing the need for security, availability and compliance."

"In 2014, we surpassed the 6 billion dollar revenue mark for the first time, and in 2015 we’re looking forward to providing our customers with extraordinary value through the strongest portfolio of products, services and solutions in our history."

The company’s revenues generated during the full year of 2014 increased by 16% to $6.04bn, with its operating income and net income declining by 6% and 13% to $1.03bn and $886m respectively.

VMware chief finance officer and chief operating officer Jonathan Chadwick said: "We are very pleased with our Q4 revenue growth of 16% on a constant currency basis and with our 2014 results, which met or exceeded our revenue and operating margin guidance for the quarter and the year."

"Our portfolio of new disruptive products and services is experiencing significant customer momentum and driving strong growth into 2015.

"We are pleased to announce an additional $1 billion stock buyback, which reflects the opportunity we see ahead for VMware."

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