VMware Reports Q3 Miss
<p><a href='https://financialmodelingprep.com/financial-summary/VMW'>VMware (NYSE:VMW)</a> reported its Q3 results, with EPS of $1.47 coming in worse than the Street estimate of $1.59. Revenue was $3.2 billion, compared to the Street estimate of $3.35 billion.</p>
<p>The miss was driven by declines in License revenue (down 13% year-over-year) and Services revenue (down 3% year-over-year), while growth in Subscription and SaaS (up 20% year-over-year) slowed modestly on a sequential basis. </p>
<p>There was no update regarding the company's pending acquisition by Broadcom, which is still expected to be completed in Broadcom's fiscal 2023. Following results, analysts at Deutsche Bank adjusted their 2023/24 revenue estimates to $13.2 billion/$13.8 billion from $13.4 billion/$14.1 billion and EPS to $6.31/$6.94 from $6.58/$7.16. </p>

NYSE:VMW