VMWare to cut 900 jobs
- Jon Xavier
- Web Producer- Silicon Valley Business Journal
- Email | Twitter | Google
VMWare plans to eliminate 900 jobs and streamline its operations, taking a
charge of between $90 and $110 million.
According to a filing with the Securities and Exchange Commission Monday,
the company will be making a "planned exit of certain business lines", to be
completed by the end of 2013.
In it earnings call Monday, the Palo Alto virtualization software company
reported a 22 percent increase in revenue to $1.29 billion and earnings of 81
cents a share in th Q4 2012, beating analyst estimates of 78 cents a share on
$.28 billion revenue. The company significantly slashed its outlook, however,
projecting revenue in the range of $1.17 billion to $1.19 billion, compared with
$1.25 billion expected by analysts.
VMWare shares fell 15 percent in after hours trading to $83.85.
Jon Xavier is Web Producer at the Business Journal. His phone number
is 408.299.1826.
-
-
-
-
-
From around the web
-
-
-
-
-
- Jon Xavier
- Web Producer- Silicon Valley Business Journal
- Email | Twitter | Google
According to a filing with the Securities and Exchange Commission Monday, the company will be making a "planned exit of certain business lines", to be completed by the end of 2013.
In it earnings call Monday, the Palo Alto virtualization software company reported a 22 percent increase in revenue to $1.29 billion and earnings of 81 cents a share in th Q4 2012, beating analyst estimates of 78 cents a share on $.28 billion revenue. The company significantly slashed its outlook, however, projecting revenue in the range of $1.17 billion to $1.19 billion, compared with $1.25 billion expected by analysts.
VMWare shares fell 15 percent in after hours trading to $83.85.
Jon Xavier is Web Producer at the Business Journal. His phone number is 408.299.1826.
We recommend
From around the web
No comments:
Post a Comment