VMware Inc. named a new chief executive Wednesday while also delivering better-than-expected preliminary results for its fiscal first quarter.
Rangarajan (Raghu) Raghuram, who currently serves as VMware’s VMW,
“VMware is uniquely poised to lead the multi-cloud computing era with an end-to-end software platform spanning clouds, the data center and the edge, helping to accelerate our customers’ digital transformations,” Raghuram said in a release.
That release also contained preliminary results for VMware’s fiscal first quarter, for which the company expects to report $2.994 billion in revenue, up 9.5% from a year earlier. The FactSet consensus was for $2.908 billion in revenue.
VMware also anticipates that it will report net earnings per share of $1.01 and adjusted earnings per share of $1.76. Analysts tracked by FactSet were modeling 80 cents in net EPS and $1.51 in adjusted EPS.
The company formally announces its quarterly results on May 27, after the closing bell.
VMware’s stock, which was still inactive in premarket trading, has rallied 14.8% year to date, while the S&P 500 index SPX,
