VMware Reported Strong Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/VMW'>VMware, Inc. (NYSE:VMW) </a>reported its Q3 results, which outperformed virtually all consensus estimates, but the upside was largely driven by license revenue as Subscription and SaaS (S&S) was roughly in-line with expectations. Quarterly revenue came in at $3.188 billion (up 11% year-over-year), better than the consensus estimate of $3.123 billion.</p>
<p>For 2023, management expects revenue growth to be in the high-single digits with S&S making up around 30%, as well as for S&S ARR to exit 2023 at a higher growth-rate than 2022.</p>
<p>Analysts at RBC Capital believe that 2023 guidance implies an acceleration in subscription and SaaS growth as the company looks to better align its go-to-market strategy with its increasingly cloudy product set. </p>

NYSE:VMW