VMware's Q3 'met expectations' despite flat revenues amid looming Broadcom deal

The group’s net income plunged more than 40 per cent however saw a double-digit rise in subscription and SaaS revenues

Kelsey Rees
clock • 2 min read
VMware's Q3 'met expectations' despite flat revenues amid looming Broadcom deal

VMware's third quarter fiscal 2023 financial results met its expectations despite coming out sluggish amid the looming $61bn Broadcom acquisition.  Revenues were flat at one per cent growth, amounting to $3.21bn. While GAAP net income plummeted 42 per cent to $231m from $398m in Q3 of the previous fiscal year.  VMware said the combination of subscription and SaaS and license revenue was $1.61bn for the third quarter, up five per cent from the third quarter of fiscal 2022. Subscrip...

To continue reading this article...

Join Channel Partner Insight

  • Exclusive news, insight and analysis for the IT channel across the US and Europe
  • Gain the latest insights through market analysis and interviews with channel leaders
  • Stay on top of key trends with an exclusive members-only podcast
  • Breaking news stories delivered straight to your inbox daily

Join now

 

Already a member?

Log in

More on Vendor

Top partner takeaways from AWS Partner Summit London 2023

Top partner takeaways from AWS Partner Summit London 2023

Three AWS partners got candid with their thoughts on the hyperscaler’s current channel direction

Kelsey Rees
clock 08 June 2023 • 11 min read
Zoom's EMEA goals: 'We want 80 per cent of our EMEA revenue from the channel by 2027'

Zoom's EMEA goals: 'We want 80 per cent of our EMEA revenue from the channel by 2027'

Zoom's EMEA partner boss Dion Smith laid out his channel growth plans and gave insight into the video conferencing giant's future

Andrea Gaini
clock 01 June 2023 • 2 min read