VMware increased its guidance for its fiscal 2022 following strong Q1 performance that yielded double-digit growth in net income.
On an earnings call, CFO and interim CEO Zane Rowe said it was now expecting total revenue of $12.8 billion for a growth rate of approximately 9% year on year, up from a previous forecast of $12.7 billion in revenue and 8% growth. The revised forecast includes $6.33 billion in combined revenue from its Subscription and SaaS and License businesses.
The guidance boost came after VMware posted a 10% increase in net revenue to $425 million in its fiscal Q1 2022 (three months ended April 30, 2021), and revenue which grew 9% to $2.99 billion.
