VMware CEO Pat Gelsinger addresses a news conference in Tokyo July 15, 2014.
Credit: /Yuya Shino
- Virtualization software maker VMware Inc reported a 14.8 percent rise in quarterly revenue on strong demand for its products that help cut the cost of moving data to the cloud.
Virtualization software allows the creation of a virtual machine that acts like a real computer with an operating system, helping clients use server and storage space more efficiently.
Revenue rose to $1.70 billion in the fourth quarter from $1.48 billion a year earlier, as income from both licenses and services rose.
The company also announced an additional $1 billion in share repurchases.
But net income fell to $326 million, or 75 cents per share, from $335 million, or 77 cents per share.
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