VMware beats Q4 expectations, posts record annual revenue

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VMware published its fourth quarter financial results on Thursday, beating market expectations and announcing record annual revenue for fiscal 2019. Non-GAAP net income for the fourth quarter was $823 million, or $1.98 per diluted share, up 23 percent year-over-year. Revenue was $2.59 billion, an increase of 16 percent.

Analysts were looking for earnings of $1.88 on revenue of $2.5 billion. VMware, a Dell Technologies portfolio company, brought in Q4 license revenue of $1.23 billion, an increase of 21 percent year-over-year. Non-GAAP operating income for Q4 was $967 million, an increase of 18 percent from the year prior. Operating cash flow was $1.01 billion, and free cash flow was $946 million.

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