Earnings Roundup: VMware, IBM, Yahoo
Here’s a roundup of quarterly financial results announcements:
VMware reports first quarter results. VMware (VMW) announced financial results Tuesday for the first quarter of 2010. Revenues were $634 million for the first quarter,with the U.S. portion jumping 30% from last year up to $317 million. International revenues grew 40 percent to $317 million from the first quarter of 2009. “Our strong first quarter results were driven by pent up customer demand, carried over from last quarter, as well as a strong performance in Europe, China and Japan,” said Mark Peek, chief financial officer. Earlier in the year VMware acquired email and collaboration vendor Zimbra from Yahoo. Other highlights included acquiring parts of EMC’s Ionix IT management business and a partnership with Cisco and NetApp to provide a secure multi-tenancy design architecture designed to enhance security in cloud environments.
IBM reports first quarter results. IBM announced first quarter 2010 results Monday. Revenue was reported at $22.9 billion, net income at $2.6 billion and full year 2010 earnings-per-share expectations raised to at least $11.20. “In the first quarter, we drove significantly improved revenue growth rates from the fourth quarter across our businesses and geographies. We had strong results in strategic investment areas including growth markets, business analytics and Smarter Planet solutions,” said Samuel J. Palmisano, IBM chairman, president and chief executive officer. Revenues for Global Services increased 4 percent and both Application Management signings and signings in Transactional services decreased. With first quarter cash on hand at $14 billion and a strong balance sheet, the company is well positioned to support its full-year objectives.
Yahoo reports first quarter results. Yahoo (YHOO) announced first quarter 2010 results Tuesday for the quarter ending March 31, 2010. Highlighting a twenty percent year over year growth in display advertising Yahoo reported $1,597 million in revenues and $188 million. “Our operating income growth and expanded margins this quarter demonstrate the success of our efficiency efforts as well as the first tangible benefits of our search agreement with Microsoft,” said Yahoo! Chief Financial Officer Tim Morse. Yahoo! received clearance for the search agreement with Microsoft from both the U.S. Department of Justice and the European Commission and the companies commenced implementation of the agreement on February 23, 2010. Data center news in the first quarter included Yahoo opening its Nebraska facility and the installation of generators at the Lockport New York facility.