Welcome to our dedicated page for VMware news (Ticker: VMW), a resource for investors and traders seeking the latest updates and insights on VMware stock.
VMware, Inc. (NYSE: VMW) is a global leader in cloud infrastructure, business mobility, and virtualization software. Headquartered in Palo Alto, California, VMware is celebrated for pioneering the use of virtualization and policy-driven automation technologies that simplify IT complexities across data centers and virtual workplaces. The company empowers its customers through solutions that span software-defined data centers, hybrid cloud computing, and mobile workspaces.
VMware boasts an impressive portfolio, including over 500,000 customers, 75,000 partners, and a workforce of more than 18,000 employees situated in 120+ locations worldwide. The company's product lineup features industry-leading solutions such as vSphere for server virtualization, NSX for network virtualization, and vSAN for software-defined storage. Additionally, VMware's Workspace ONE provides comprehensive digital workspace management, enhancing business mobility and security.
In recent corporate developments, VMware has made significant strides. For instance, the Broadcom acquisition is poised to bolster VMware's capabilities, having received all required regulatory approvals. This expansion aims to enhance global technology solutions, especially in critical markets like data centers, networking, and enterprise software.
VMware’s commitment to social responsibility is evident in its VMware 2030 Agenda, a program directed towards building a more sustainable, equitable, and secure future. One illustrative example is the company's Academic Software Licensing Program, which supports non-profit projects through the provision of essential virtualization software. A recent case involved Germany's Care-For-Rare Foundation, where VMware stepped in to provide necessary licenses for a server donation, enabling the use of AI tools for diagnosing rare diseases in children.
Financially, VMware has shown solid performance. As of 2014, the company reported revenues of $6.04 billion. VMware continues to innovate and expand its offerings, ensuring it remains at the forefront of the IT industry.
Expedient launched Expedient Edge, a comprehensive platform integrating operational and information technology into a cloud operating model. This initiative caters to a wide array of industries and organizations, featuring consumption-based managed services such as virtual machines, containers, and disaster recovery. Expedient Edge facilitates easy setup by non-IT staff and is optimized for remote environments. Partnering with Hewlett Packard Enterprise (HPE) and VMware (VMW), the platform ensures high availability and powerful performance at less than one-tenth the cost of comparable services. Available immediately, Expedient Edge starts at $2,000 per site per month.
Antel, Uruguay's leading mobile operator, collaborates with VMware (NYSE: VMW) for a Proof of Concept (PoC) using the VMware Telco Cloud Platform. This initiative aims to modernize network operations in light of 5G advancements, providing Antel the ability to deploy new network functions efficiently. The integrated platform will enhance operational efficiency and accelerate the rollout of innovative services to meet rising customer demands. With a history of technology implementation, Antel's PoC signifies a significant step towards establishing a commercial 5G standalone network, enhancing its position as a key player in South America's telecommunications landscape.
VMware has launched a new Retail POS modernization solution to help retailers enhance their point of sale systems. This solution, developed with Stratodesk, aims to extend the lifecycle of existing POS hardware, reduce security risks, and improve customer experience. Key features include the ability to maximize uptime, automate security updates, and support mobile POS options. With insights from Coresight Research, the solution addresses retailers' needs for agile technology that adapts to market dynamics, ultimately contributing to better financial performance. VMware continues to leverage its proven technologies to drive innovation and efficiency in retail operations.
VMware, Inc. (NYSE: VMW) has been recognized as a Leader in two IDC MarketScape reports concerning virtual client computing and end-user experience management. The assessments highlight VMware's broad ecosystem and its growing pool of certified professionals, beneficial for companies in a tight labor market. Furthermore, VMware's advanced technology portfolio, including Digital Employee Experience offerings, allows for enhanced productivity through agile virtual environments. These accolades come as the hybrid work model gains traction, underscoring VMware's commitment to improving digital work experiences.
VMware reported Q3 fiscal 2023 revenue of $3.21 billion, a 1% increase year-over-year, with subscription and SaaS revenue reaching $988 million, up 20%. Subscription and SaaS ARR grew 24% to $4.10 billion. However, GAAP net income dropped 43% to $231 million ($0.54 per share), while non-GAAP net income fell 15% to $626 million ($1.47 per share). Operating income also decreased by 25% to $390 million. RPO increased 7% to $11.90 billion.
At VMware Explore 2022 Europe, VMware (NYSE: VMW) unveiled innovations aimed at enhancing multi-cloud capabilities for customers. CEO Raghu Raghuram highlighted the shift towards a 'Cloud Smart' approach, addressing complexities in cost, cybersecurity, and energy consumption. Key offerings include the VMware Sovereign Cloud, next-generation SD-WAN, and Carbon Black XDR, designed to improve operational efficiency and security. Research indicates that 97% of cloud-smart organizations reported revenue growth, showcasing the effectiveness of VMware's strategies.
HPE and VMware have announced a partnership to deliver HPE GreenLake for VMware, aimed at creating a unified, modern hybrid cloud solution. The collaboration is designed to help organizations address the complexities of cloud management with a pay-as-you-go model. This integrated service focuses on offering flexibility and choice, enabling customers to optimize their infrastructure across various environments. Expected to be available in the first half of 2023, this solution enhances the operational framework for over 200,000 shared customers of both companies.
VMware and Equinix have expanded their partnership by launching VMware Cloud on Equinix Metal, a new distributed cloud service targeting enterprises. This service promises enhanced performance, security, and cost-effectiveness, addressing customer needs for low-latency and high-performance applications. It combines VMware's IaaS with Equinix's Bare Metal as a Service, enabling seamless operations across multiple cloud environments. This move aligns with the growing demand for cloud-smart solutions, facilitating better infrastructure for smart cities, video analytics, and financial trading.
Wipro Limited (NYSE: WIT) and VMware, Inc. (NYSE: VMW) have announced an expanded partnership to accelerate digital transformation for mutual customers. Wipro will launch a new business unit focusing on VMware solutions, enhancing multi-cloud capabilities and innovation. This initiative aims to streamline VMware implementations and improve ROI for businesses. It will leverage Wipro’s extensive expertise across industries, with a commitment to sustainability. The collaboration includes significant investment for global service delivery and aims to deploy 5,000 cross-trained professionals in the next two years.
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