VMware Gets a Lift
Shares of VMware are on the rise this morning, spiking seven percent thanks to some decent earnings.
On Thursday, the virtualization software firm reported a second-quarter profit of 20 cents a share, topping the 19 cents projected by analysts. And while sales fell to $455.7 million, they still exceeded the $452.4 million the Street had been expecting.
In a conference call with analysts, VMware (VMW) execs warned not to read to much into that though, saying they are still cautious about the economy.
“It is clear the global economy has not yet recovered and there is still some uncertainty,” CEO Paul Maritz cautioned. “In a recent survey of 150 CIOs of large businesses, 40 percent expected some downward revision in their budgets in the second half of 2009. That said, there were some signs that customers were moving on with business, even if it was buying just enough just in time.”