VMware has released financial results for the first quarter of 2014. Revenues for the first quarter were $1.36 billion, an increase of 14% from the first quarter of 2013. Operating income for the first quarter was $241 million, an increase of 51% from the first quarter of 2013.
Pat Gelsinger (Chief executive officer, VMware): As the industry shifts from client server computing to the mobile-cloud era, customers are choosing our solutions because we have the most complete vision and offering for navigating this evolving world.
Net income for the first quarter was $199 million, or 46 cents per diluted share, up 14% per diluted share compared to $173 million, or 40 cents per diluted share, for the first quarter of 2013.
Operating cash flows for the first quarter were $750 million, an increase of 11% from the first quarter of 2013. Free cash flows for the quarter were $673 million, an increase of 12% from the first quarter of 2013.
Cash, cash equivalents and short-term investments were $6.62 billion and unearned revenues were $4.17 billion as of March 31, 2014.
[Image courtesy: VMware]