FY21 revenue of $11.8 billion; growth of 9% year-over-year

Subscription and SaaS revenue of $2.6 billion; 22% of total revenue for FY21

PALO ALTO, Calif.–(BUSINESS WIRE)–$VMW #earnings–VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today announced financial results for the fourth quarter and full fiscal year 2021:

Quarterly Review

  • Revenue for the fourth quarter was $3.3 billion, an increase of 7% from the fourth quarter of fiscal 2020.
  • The combination of Subscription and SaaS and license revenue was $1.7 billion, an increase of 8% from the fourth quarter of fiscal 2020.
  • Subscription and SaaS revenue for the fourth quarter was $707 million, an increase of 27% year-over-year.
  • GAAP net income for the fourth quarter was $791 million, or $1.87 per diluted share, compared to $321 million, or $0.76 per diluted share, for the fourth quarter of fiscal 2020. Non-GAAP net income for the fourth quarter was $936 million, or $2.21 per diluted share, up 8% per diluted share compared to $868 million, or $2.05 per diluted share, for the fourth quarter of fiscal 2020.
  • GAAP operating income for the fourth quarter was $1.0 billion, an increase of 303% from the fourth quarter of fiscal 2020. Non-GAAP operating income for the fourth quarter was $1.1 billion, an increase of 7% from the fourth quarter of fiscal 2020.
  • Operating cash flow for the fourth quarter was $1.3 billion. Free cash flow for the fourth quarter was $1.2 billion.
  • RPO for the fourth quarter totaled $11.3 billion, up 10% year-over-year.
  • Total revenue plus sequential change in total unearned revenue grew 6% year-over-year.
  • The combination of Subscription and SaaS and license revenue plus sequential change in unearned Subscription and SaaS and license revenue grew 10% year-over-year.

Annual Review

  • Revenue for fiscal year 2021 was $11.8 billion, an increase of 9% from fiscal 2020.
  • The combination of Subscription and SaaS and license revenue for fiscal 2021 was $5.6 billion, an increase of 11% from fiscal year 2020.
  • Subscription and SaaS revenue for fiscal year 2021 was $2.6 billion, an increase of 38% from fiscal year 2020.
  • GAAP net income for fiscal year 2021 was $2.1 billion, or $4.86 per diluted share, compared to $6.4 billion, or $15.08 per diluted share, for fiscal 2020. Non-GAAP net income for fiscal year 2021 was $3.0 billion, or $7.20 per diluted share, up 15% per diluted share compared to $2.7 billion, or $6.24 per diluted share, for fiscal 2020.
  • GAAP operating income for fiscal year 2021 was $2.4 billion, an increase of 66% from fiscal 2020. Non-GAAP operating income for fiscal year 2021 was $3.8 billion, an increase of 16% from fiscal 2020.
  • Operating cash flow for fiscal year 2021 was $4.4 billion. Free cash flow for fiscal year 2021 was $4.1 billion.
  • Cash was $4.7 billion, and unearned revenue was $10.3 billion, as of January 29, 2021.

We are pleased with our fourth quarter financial performance and it was a good finish to the fiscal year. Our results reinforce that customers continue to choose VMware technologies and solutions to drive their digital foundation for today and for the future,” said Zane Rowe, CFO and Interim CEO, VMware. “We continue to build and scale our Subscription and SaaS business, bringing customers flexibility in consumption choices, as well as delivering new offerings to market.”

Business Highlights & Strategic Announcements

  • VMware Workspace ONE Access achieved FedRAMP℠ Moderate Authorization, allowing the public sector and other regulated industries to rapidly adopt SaaS solutions for mission-enabling, more secure and cost-effective cloud-based IT.
  • VMware announced a partnership with Dell Technologies and SK Telecom to develop a multi-access edge computing (MEC) solution that brings together private 5G and edge computing capabilities.
  • VMware announced the commercial availability of VMware Blockchain, an extensible and scalable enterprise-grade platform to build business networks and deploy business-critical decentralized applications. With VMware Blockchain, customers can unlock data silos and free up data to flow more securely, privately and instantaneously.
  • VMware announced the company’s 2030 Agenda, a 10-year commitment to reaching 30 goals by 2030 for creating a more equitable, sustainable and resilient world. These goals, which will be integrated into VMware’s business, are focused on three outcomes: trust, equity and sustainability.
  • VMware achieved a number of recognitions for strong environmental, social and governance (ESG) performance in the area of sustainability:

    • The company has been included on the 2020 Dow Jones Sustainability Indices (DJSI), one of the world’s leading ESG benchmarks. VMware ranked in the 94th percentile in the software category for its leadership in corporate sustainability.
    • VMware was recognized on CDP’s 2020 Climate A List1, which recognizes companies committed to reducing carbon emissions and managing climate change risk.
    • VMware was acknowledged by the 2020 Carbon Clean 200™, which ranks publicly traded companies based on their green energy revenues.
  • In November, Forrester named VMware a leader in The Forrester Wave™: Hybrid Cloud Management, Q4 20202.
  • VMware once again was named a Leader in the December 2020 Gartner Magic Quadrant for Hyperconverged Infrastructure Software, December 20203.
  • Also in January, VMware was positioned as a leader in three IDC MarketScape reports related to the End-User Computing space:

    • IDC MarketScape: Worldwide Unified Endpoint Management Software 2021 Vendor Assessment (doc #US46957820, January 2021) 4
    • IDC MarketScape: Worldwide Unified Endpoint Management Software for Apple Devices 2021 Vendor Assessment (doc #US46965620, January 2021) 5
    • IDC MarketScape: Worldwide Unified Endpoint Management Software for Ruggedized/Internet of Things Deployment 2021 Vendor Assessment (doc #US46957920, January 2021) 6

The company will host a conference call today at 1:30 p.m. PT/ 4:30 p.m. ET to review financial results and business outlook. A live web broadcast of the event will be available on the VMware investor relations website at http://ir.vmware.com. Slides will accompany the web broadcast. The replay of the webcast and slides will be available on the website for two months. In addition, six quarters of historical data for unearned revenue will also be made available at http://ir.vmware.com in conjunction with the conference call.

1 CDP. The A List 2020. Available at: https://www.cdp.net/en/companies/companies-scores
2 Forrester Research, Inc., The Forrester Wave(tm): Hybrid Cloud Management, Q4 2020, authored by Tracy Woo, November 30th, 2020

3 Gartner, Magic Quadrant for Hyperconverged Infrastructure Software, 7 December 2020, Jeffrey Hewitt, Philip Dawson, Julia Palmer, Tony Harvey

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

4 IDC, IDC MarketScape: Worldwide Unified Endpoint Management Software 2021 Vendor Assessment, January 2021, #US46957820

5 IDC, IDC MarketScape: Worldwide Unified Endpoint Management Software for Apple Devices 2021 Vendor Assessment, January 2021, #US46965620

6 IDC, IDC MarketScape: Worldwide Unified Endpoint Management Software for Ruggedized/Internet of Things Deployment 2021 Vendor Assessment, January 2021, #US46957920

About VMware

VMware software powers the world’s complex digital infrastructure. The company’s cloud, app modernization, networking, security, and digital workspace offerings help customers deliver any application on any cloud across any device. Headquartered in Palo Alto, California, VMware is committed to being a force for good, from its breakthrough technology innovations to its global impact. For more information, please visit https://www.vmware.com/company.html

Additional Information

VMware’s website is located at www.vmware.com, and its investor relations website is located at http://ir.vmware.com. VMware’s goal is to maintain the investor relations website as a portal through which investors can easily find or navigate to pertinent information about VMware, all of which is made available free of charge. The additional information includes: materials that VMware files with the SEC; announcements of investor conferences, speeches and events at which its executives talk about its products, services and competitive strategies; webcasts of its quarterly earnings calls, investor conferences and events (archives of which are also available for a limited time); additional information on its financial metrics, including reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures; press releases on quarterly earnings, product and service announcements, legal developments and international news; corporate governance information; other news, blogs and announcements that VMware may post from time to time that investors may find useful or interesting; and opportunities to sign up for email alerts and RSS feeds to have information pushed in real time.

VMware, Workspace ONE, and VMware Blockchain are registered trademarks or trademarks of VMware, Inc. or its subsidiaries in the United States and other jurisdictions. All other marks and names mentioned herein may be trademarks of their respective organizations.

Use of Non-GAAP Financial Measures

Reconciliations of non-GAAP financial measures to VMware’s financial results as determined in accordance with GAAP are included at the end of this press release following the accompanying financial data. For a description of these non-GAAP financial measures, including the reasons management uses each measure, please see the section of the tables titled “About Non-GAAP Financial Measures.”

Forward-Looking Statements

This press release contains forward-looking statements including, among other things, statements regarding customers continuing to choose VMware technologies and solutions for the future; VMware continuing to build and scale its Subscription and SaaS business and to deliver new offerings; VMware reaching the goals in its 2030 Agenda; and the expected benefits to customers of partnerships, and products, solutions and services, including in areas of VMware Blockchain and VMware Workspace ONE. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (1) the impact of the COVID-19 pandemic on our operations, financial condition, our customers, the business environment and the global and regional economies; (2) adverse changes in general economic or market conditions; (3) delays or reductions in consumer, government and information technology spending; (4) competitive factors, including but not limited to pricing pressures, industry consolidation, entry of new competitors into the virtualization software and cloud, end user and mobile computing, and security industries, as well as new product and marketing initiatives by VMware’s competitors; (5) the ability to successfully integrate into VMware acquired companies and assets and smoothly transition services related to divested assets from VMware; (6) rapid technological changes in the virtualization software and cloud, end user, security and mobile computing industries; (7) VMware’s customers’ ability to transition to new products, platforms, services, solutions and computing strategies in such areas as containerization, modern applications, intrinsic security and networking, cloud, digital workspaces, virtualization and the software defined data center, and the uncertainty of their acceptance of emerging technology; (8) VMware’s ability to enter into, maintain and extend strategically effective partnerships, collaborations and alliances; (9) the continued risk of litigation and regulatory actions; (10) VMware’s ability to protect its proprietary technology; (11) changes to product and service development timelines; (12) VMware’s relationship with Dell Technologies and Dell’s ability to control matters requiring stockholder approval, including the election of VMware’s board members and matters relating to Dell’s investment in VMware; (13) the potential impact of Dell’s investigation of strategic alternatives with respect to its interest in VMware, including a potential spinoff and related special cash dividend; (14) VMware’s ability to attract and retain highly qualified employees; (15) the ability of VMware to utilize our relationship with Dell to leverage go-to-market and product development activities; (16) risks associated with cyber-attacks, information security and data privacy; (17) disruptions resulting from key management changes; (18) risks associated with international sales such as fluctuating currency exchange rates and increased trade barriers; (19) changes in VMware’s financial condition; (20) geopolitical changes such as Brexit and increased tariffs and trade barriers that could adversely impact our non-U.S. sales; (21) geopolitical, macroeconomic and global environmental changes that may impact our 2030 Agenda; and (22) other business effects, including those related to industry, market, economic, political, regulatory and global health conditions. These forward-looking statements are made as of the date of this press release, are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including VMware’s most recent reports on Form 10-K and Form 10-Q and current reports on Form 8- K that we may file from time to time, which could cause actual results to vary from expectations. VMware assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

VMware, Inc.

CONSOLIDATED STATEMENTS OF INCOME

(amounts in millions, except per share amounts, and shares in thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

January 29,

 

January 31,

 

January 29,

 

January 31,

 

 

2021

 

2020

 

2021

 

2020

Revenue:

 

 

 

 

 

 

 

 

License

 

$

1,014

 

 

$

1,034

 

 

$

3,033

 

 

$

3,181

 

Subscription and SaaS

 

 

707

 

 

 

556

 

 

 

2,587

 

 

 

1,877

 

Services

 

 

1,573

 

 

 

1,483

 

 

 

6,147

 

 

 

5,753

 

Total revenue

 

 

3,294

 

 

 

3,073

 

 

 

11,767

 

 

 

10,811

 

Operating expenses(1):

 

 

 

 

 

 

 

 

Cost of license revenue

 

 

45

 

 

 

50

 

 

 

163

 

 

 

166

 

Cost of subscription and SaaS revenue

 

 

187

 

 

 

106

 

 

 

588

 

 

 

400

 

Cost of services revenue

 

 

322

 

 

 

317

 

 

 

1,292

 

 

 

1,233

 

Research and development

 

 

757

 

 

 

676

 

 

 

2,816

 

 

 

2,522

 

Sales and marketing

 

 

987

 

 

 

1,003

 

 

 

3,711

 

 

 

3,677

 

General and administrative(2)

 

 

(6

)

 

 

592

 

 

 

767

 

 

 

1,293

 

Realignment

 

 

(5

)

 

 

79

 

 

 

42

 

 

 

79

 

Operating income

 

 

1,007

 

 

 

250

 

 

 

2,388

 

 

 

1,441

 

Investment income

 

 

 

 

 

20

 

 

 

7

 

 

 

60

 

Interest expense

 

 

(49

)

 

 

(41

)

 

 

(204

)

 

 

(149

)

Other income (expense), net

 

 

7

 

 

 

10

 

 

 

191

 

 

 

86

 

Income before income tax

 

 

965

 

 

 

239

 

 

 

2,382

 

 

 

1,438

 

Income tax provision (benefit)

 

 

174

 

 

 

(76

)

 

 

324

 

 

 

(4,918

)

Net income

 

 

791

 

 

 

315

 

 

 

2,058

 

 

 

6,356

 

Less: Net loss attributable to non-controlling interests

 

 

 

 

 

(6

)

 

 

 

 

 

(56

)

Net income attributable to VMware, Inc.

 

$

791

 

 

$

321

 

 

$

2,058

 

 

$

6,412

 

Net income per weighted-average share attributable to VMware, Inc. common stockholders, basic for Classes A and B

 

$

1.88

 

 

$

0.77

 

 

$

4.90

 

 

$

15.37

 

Net income per weighted-average share attributable to VMware, Inc. common stockholders, diluted for Classes A and B

 

$

1.87

 

 

$

0.76

 

 

$

4.86

 

 

$

15.08

 

Weighted-average shares, basic for Classes A and B

 

 

420,090

 

 

 

417,225

 

 

 

419,841

 

 

 

417,058

 

Weighted-average shares, diluted for Classes A and B

 

 

422,813

 

 

 

424,007

 

 

 

423,240

 

 

 

425,235

 

__________

 

 

 

 

 

 

 

 

(1) Includes stock-based compensation as follows:

 

 

 

 

 

 

 

 

Cost of license revenue

 

$

 

 

$

 

 

$

1

 

 

$

1

 

Cost of subscription and SaaS revenue

 

 

6

 

 

 

3

 

 

 

19

 

 

 

13

 

Cost of services revenue

 

 

25

 

 

 

24

 

 

 

99

 

 

 

83

 

Research and development

 

 

127

 

 

 

130

 

 

 

524

 

 

 

459

 

Sales and marketing

 

 

79

 

 

 

91

 

 

 

322

 

 

 

293

 

General and administrative

 

 

16

 

 

 

64

 

 

 

157

 

 

 

168

 

(2) General and administrative expenses for the fourth quarter of fiscal 2021 included derecognition of a previously accrued litigation loss of $237 million.

VMware, Inc.

CONSOLIDATED BALANCE SHEETS

(amounts in millions, except per share amounts, and shares in thousands)

(unaudited)

 

 

 

 

 

January 29,

 

January 31,

 

2021

 

2020

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

4,692

 

 

$

2,915

 

Short-term investments

 

23

 

 

 

 

Accounts receivable, net of allowance for doubtful accounts of $5 and $7

 

1,929

 

 

 

1,883

 

Due from related parties, net

 

1,438

 

 

 

1,457

 

Other current assets

 

530

 

 

 

436

 

Total current assets

 

8,612

 

 

 

6,691

 

Property and equipment, net

 

1,334

 

 

 

1,280

 

Other assets

 

2,697

 

 

 

2,266

 

Deferred tax assets

 

5,781

 

 

 

5,556

 

Intangible assets, net

 

993

 

 

 

1,172

 

Goodwill

 

9,599

 

 

 

9,329

 

Total assets

$

29,016

 

 

$

26,294

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

131

 

 

$

208

 

Accrued expenses and other

 

2,382

 

 

 

2,151

 

Current portion of long-term debt and other borrowings

 

 

 

 

2,747

 

Unearned revenue

 

5,873

 

 

 

5,218

 

Total current liabilities

 

8,386

 

 

 

10,324

 

Note payable to Dell

 

270

 

 

 

270

 

Long-term debt

 

4,717

 

 

 

2,731

 

Unearned revenue

 

4,441

 

 

 

4,050

 

Income tax payable

 

805

 

 

 

817

 

Operating lease liabilities

 

891

 

 

 

746

 

Other liabilities

 

455

 

 

 

347

 

Total liabilities

 

19,965

 

 

 

19,285

 

Contingencies

 

 

 

Stockholders’ equity:

 

 

 

Class A common stock, par value $0.01; authorized 2,500,000 shares; issued and outstanding 112,082 and 110,484 shares

 

1

 

 

 

1

 

Class B convertible common stock, par value $0.01; authorized 1,000,000 shares; issued and outstanding 307,222 shares

 

3

 

 

 

3

 

Additional paid-in capital

 

1,985

 

 

 

2,000

 

Accumulated other comprehensive loss

 

(5

)

 

 

(4

)

Retained earnings

 

7,067

 

 

 

5,009

 

Total stockholders’ equity

 

9,051

 

 

 

7,009

 

Total liabilities and stockholders’ equity

$

29,016

 

 

$

26,294

 

VMware, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

(unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

January 29,

 

January 31,

 

January 29,

 

January 31,

 

2021

 

2020

 

2021

 

2020

Operating activities:

 

 

 

 

 

 

 

Net income

$

791

 

 

$

315

 

 

$

2,058

 

 

$

6,356

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

268

 

 

 

247

 

 

 

1,025

 

 

 

873

 

Stock-based compensation

 

253

 

 

 

312

 

 

 

1,122

 

 

 

1,017

 

Deferred income taxes, net

 

25

 

 

 

(146

)

 

 

(152

)

 

 

(5,284

)

Unrealized (gain) loss on equity securities, net

 

24

 

 

 

(1

)

 

 

(172

)

 

 

(31

)

(Gain) loss on disposition of assets, revaluation and impairment, net

 

2

 

 

 

 

 

 

24

 

 

 

(4

)

Loss on extinguishment of debt

 

 

 

 

 

 

 

8

 

 

 

 

Other

 

(1

)

 

 

6

 

 

 

(1

)

 

 

9

 

Changes in assets and liabilities, net of acquisitions:

 

 

 

 

 

 

 

Accounts receivable

 

(139

)

 

 

(283

)

 

 

(37

)

 

 

(119

)

Other current assets and other assets

 

(258

)

 

 

(224

)

 

 

(879

)

 

 

(668

)

Due to/from related parties, net

 

(765

)

 

 

(673

)

 

 

19

 

 

 

(374

)

Accounts payable

 

(65

)

 

 

21

 

 

 

(69

)

 

 

35

 

Accrued expenses and other liabilities

 

125

 

 

 

499

 

 

 

518

 

 

 

417

 

Income taxes payable

 

(15

)

 

 

(38

)

 

 

(68

)

 

 

(23

)

Unearned revenue

 

1,079

 

 

 

1,050

 

 

 

1,013

 

 

 

1,668

 

Net cash provided by operating activities

 

1,324

 

 

 

1,085

 

 

 

4,409

 

 

 

3,872

 

Investing activities:

 

 

 

 

 

 

 

Additions to property and equipment

 

(82

)

 

 

(64

)

 

 

(329

)

 

 

(279

)

Sales of available-for-sale securities

 

26

 

 

 

 

 

 

26

 

 

 

 

Purchases of strategic investments

 

(13

)

 

 

(12

)

 

 

(29

)

 

 

(30

)

Proceeds from disposition of assets

 

7

 

 

 

 

 

 

28

 

 

 

22

 

Business combinations, net of cash acquired, and purchases of intangible assets

 

(19

)

 

 

 

 

 

(409

)

 

 

(2,437

)

Net cash paid on disposition of a business

 

 

 

 

 

 

 

 

 

 

(4

)

Net cash used in investing activities

 

(81

)

 

 

(76

)

 

 

(713

)

 

 

(2,728

)

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

Proceeds from issuance of common stock

 

9

 

 

 

14

 

 

 

273

 

 

 

308

 

Net proceeds from issuance of long-term debt

 

 

 

 

 

 

 

1,979

 

 

 

 

Borrowings under term loan, net of issuance costs

 

 

 

 

1,400

 

 

 

 

 

 

3,393

 

Repayment of term loan

 

 

 

 

(500

)

 

 

(1,500

)

 

 

(1,900

)

Repayment of current portion of long-term debt

 

 

 

 

 

 

 

(1,257

)

 

 

 

Repurchase of common stock

 

(379

)

 

 

(55

)

 

 

(945

)

 

 

(1,334

)

Shares repurchased for tax withholdings on vesting of restricted stock

 

(93

)

 

 

(141

)

 

 

(412

)

 

 

(534

)

Payment to acquire non-controlling interests

 

 

 

 

(1,666

)

 

 

(91

)

 

 

(1,666

)

Contribution from Dell

 

 

 

 

 

 

 

 

 

 

27

 

Principal payments on finance lease obligations

 

(1

)

 

 

 

 

 

(4

)

 

 

(1

)

Net cash used in financing activities

 

(464

)

 

 

(948

)

 

 

(1,957

)

 

 

(1,707

)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 

 

 

 

(2

)

 

 

 

 

 

(2

)

Net increase (decrease) in cash, cash equivalents and restricted cash

 

779

 

 

 

59

 

 

 

1,739

 

 

 

(565

)

Cash, cash equivalents and restricted cash at beginning of the period

 

3,991

 

 

 

2,972

 

 

 

3,031

 

 

 

3,596

 

Cash, cash equivalents and restricted cash at end of the period

$

4,770

 

 

$

3,031

 

 

$

4,770

 

 

$

3,031

 

Supplemental disclosures of cash flow information:

 

 

 

 

 

 

 

Issuance of VMware Class B common shares for Pivotal Class B common shares held by Dell

$

 

 

$

1,101

 

 

$

 

 

$

1,101

 

Cash paid for interest

 

58

 

 

 

3

 

 

 

200

 

 

 

134

 

Cash paid for taxes, net

 

150

 

 

 

86

 

 

 

543

 

 

 

369

 

Non-cash items:

 

 

 

 

 

 

 

Changes in capital additions, accrued but not paid

$

8

 

 

$

13

 

 

$

(10

)

 

$

18

 

Changes in tax withholdings on vesting of restricted stock, accrued but not paid

 

5

 

 

 

(62

)

 

 

1

 

 

 

(13

)

VMware, Inc.

GROWTH IN REVENUE PLUS SEQUENTIAL CHANGE IN UNEARNED REVENUE

(in millions)

(unaudited)

 

Growth in Total Revenue Plus Sequential Change in Unearned Revenue

 

 

 

 

 

 

 

Three Months Ended

 

 

January 29,

 

January 31,

 

 

2021

 

2020

Total revenue, as reported

 

$

3,294

 

 

$

3,073

Sequential change in unearned revenue(1)

 

 

1,079

 

 

 

1,051

Total revenue plus sequential change in unearned revenue

 

$

4,373

 

 

$

4,124

Change (%) over prior year, as reported

 

 

6

%

 

 

 

 

 

 

 

Growth in License and Subscription and SaaS Revenue Plus Sequential Change in Unearned License and Subscription and SaaS Revenue

 

 

 

 

 

 

 

Three Months Ended

 

 

January 29,

 

January 31,

 

 

2021

 

2020

Total license and subscription and SaaS revenue, as reported

 

$

1,721

 

 

$

1,590

Sequential change in unearned license and subscription and SaaS revenue(2)

 

 

406

 

 

 

335

Total license and subscription and SaaS revenue plus sequential change in unearned license and subscription and SaaS revenue

 

$

2,127

 

 

$

1,925

Change (%) over prior year, as reported

 

 

10

%

 

 

__________

 

 

 

 

(1) Consists of the change in total unearned revenue from the preceding quarter. Total unearned revenue consists of current and non-current unearned revenue amounts presented in the consolidated balance sheets.

(2) Consists of the change in unearned license and subscription and SaaS revenue from the preceding quarter.

Contacts

Paul Ziots

VMware Investor Relations

pziots@vmware.com
650-427-3267

Michael Thacker

VMware Global PR

mthacker@vmware.com
650-427-4454

Read full story here

The post VMware Reports Fourth Quarter and Fiscal Year 2021 Results appeared first on Web Hosting | Cloud Computing | Datacenter | Domain News.





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