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Running Of The Bulls VMware Analysts Positive On Q1 Report Even As Investors Retreat
Virtualization software provider VMware, Inc. VMW 5.88% reported strong fiscal first-quarter results, yet its shares came under pressure Friday. VMware's first quarter showed an across-the-board beat, and the company maintained its 2020 guidance, Rangan said in a Friday note. Compute, NSX, vSAN and EUC continued to drive growth, he said. Hybrid and SaaS subscriptions, especially the Amazon.com, Inc. AMZN 1.63% AWS partnership billings, are a leading indicator of potential continued acceleration in VMware's revenue pool, the analyst said. VMware's exposure to China is about 3-4 percent of revenues, Rangan said.Strong performance is in line with our long-term thesis and we see positive setup in FY20E with expanded partnerships.VMware Cloud and billings growth that exceeded revenue growth set the company up for possible continued revenue acceleration, the analyst said.
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