: VMware stock ticks higher on earnings, outlook beat

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VMware Inc. VMW shares rose in the extended session Tuesday after the enterprise cloud company topped Wall Street expectations and raised its outlook for the year. VMware shares rose 0.7% after hours, following a 1.2% rise in the regular session to close at $150.65. The company reported third-quarter net income of $434 million, or $1.02 a share, compared with $407 million, or 96 cents a share, in the year-ago period. Adjusted earnings, which excludes stock-based compensation expenses and other items, were $1.66 a share, compared with $1.49 a share in the year-ago period. Revenue rose to $2.86 billion from $2.66 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.44 a share on revenue of $2.81 billion. VMware said it was raising its outlook for the year to adjusted earnings of $7.03 a share on revenue of about $11.7 billion, while analysts had forecast $6.66 a share on revenue of $11.62 billion.
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