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Tuesday, October 20, 2015

VMware's revenue forecast misses estimates, shares fall, (NYSE: VMW)

Virtualization software maker VMware Inc forecast current-quarter revenue largely below Wall Street's estimates, sending its shares down 5 percent in extended trading.VMware, whose parent EMC Corp is being acquired by Dell Inc in a $67 billion deal, said EMC and Dell have committed to support the company's independent partnering strategy.The company said it had seen softer bookings in the quarter due to speculation about its future and weakness in China, Russia and Brazil. VMware forecast revenue of between $1.83 billion and $1.88 billion for the fourth quarter, its seasonally strongest.

VMware, Inc. is a provider of virtualization infrastructure solutions. Shares of VMW fell by 0.66% or $-0.46/share to $68.76. In the past year, the shares have traded as low as $67.48 and as high as $93.43. On average, 2393760 shares of VMW exchange hands on a given day and today's volume is recorded at 2927403.