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VMware Inc. (VMW) Sank To A New Low On Weak Guidance

VMware Inc. (VMW) reported fourth quarter adjusted net income of $0.81 per share after the close Monday, compared to $0.62 per share in the previous year. The consensus estimate was for EPS of $0.78. Revenues grew 22 percent to $1.29 billion from $1.06 billion last year. Analysts estimated revenues of $1.28 billion.

VMware expects first quarter revenues of $1.17 billion to $1.19 billion. However, analysts currently expect the company to report revenue of $1.25 billion.

VMware gapped open dramatically lower Tuesday, but traded in a range throughout the session. The stock closed down by 21.18 at $77.14 on the highest volume of the year. VMware dropped below both its 50 and 200-day moving averages and plunged to a new low for the year.

by RTTNews Staff Writer

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