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Software maker VMware's profit rises 14.4 pct
January 26, 2016 / 9:27 PM / 2 years ago

Software maker VMware's profit rises 14.4 pct

Jan 26 (Reuters) - VMware Inc’s quarterly profit rose 14.4 percent as demand increased for its virtualization software, which helps customers cut costs by running multiple operating systems on a single machine.

The company’s net income rose to $373 million, or 88 cents per share, in the fourth quarter ended Dec. 31 from $326 million, or 75 cents per share, a year earlier.

Revenue rose 9.7 percent to $1.87 billion.

The company also said its Chief Financial Officer and Chief Operating Officer Jonathan Chadwick was quitting and Zane Rowe would be the CFO from March 1.

VMware also said it would restructure about 800 jobs.

VMware’s parent, data storage company EMC Corp, is in the process of being acquired by Dell Inc. (Reporting by Sruthi Shankar in Bengaluru; Editing by Kirti Pandey)

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