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VMWare reports net loss for the fourth quarter

VMware Inc. reported a net loss of $440 million for the fourth quarter of its fiscal 2018 compared with net income of $441 million a year earlier, mainly attributable to a tax charge of $970 million stemming from the enactment of the U.S. Tax Cuts and Jobs Act.

The loss per share for the most recent quarter stood at $1.09, down from the comparable quarter's EPS of $1.04.

The cloud infrastructure company said non-GAAP net income for the quarter came in at $691 million, or $1.68 per diluted share, up 18% compared to $597 million, or $1.43 per diluted share, for the fourth quarter of 2016.

Revenue rose to $2.31 billion, up from the prior-year quarter's total of $2.03 billion. Income before tax for the quarter ending Feb. 2 climbed to $668 million from the prior-year period's $549 million.

Net income for the full year fell 51.9% to $570 million, down from $1.19 billion reported in the year ending Dec. 31, 2016.