VMware Q1 Beats Street

VMware (VMW) this afternoon reported better than expected Q1 results.

For the quarter, the virtualization software provider posted revenue of $634 million, up 35% from a year ago, and above the Street at $592.5 million. Non-GAAP profits of 32 cents a share topped the Street consensus at 28 cents.

For Q2, the company sees license revenue down sequentially, but with total revenue of $635 million to $655 million, reflecting the acquisition of Zimbra from Yahoo and the purchase of certain assets from EMC. The Street has been expecting $607.7 million.

For the full year, VMW sees revenue of $2.625 billion to $2.725 billion, above the Street at $2.53 billion.

VMW in late trading is up 9 cents, or 0.2%, to $56.61.