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Vmware profit misses consensus by 51.4% in Q3

VMware Inc. said its normalized net income for the third quarter was 49 cents per share, compared with the S&P Capital IQ consensus estimate of $1.00 per share.

EPS rose 35.2% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $206.3 million, an increase of 32.0% from $156.3 million in the prior-year period.

The normalized profit margin increased to 12.1% from 10.3% in the year-earlier period.

Total revenue grew 10.4% year over year to $1.67 billion from $1.51 billion, and total operating expenses increased 6.2% year over year to $1.35 billion from $1.27 billion.

Reported net income grew 30.2% from the prior-year period to $254.4 million, or 60 cents per share, from $195.4 million, or 45 cents per share.