VMware (CEO Raghu Raghuram), a global leader in enterprise software, reported Q3 2022 earnings growth of over 10% driven by increased subscription and software-as-a-service (SaaS) revenue.

VMware (CEO Raghu Raghuram) recently announced its third quarter fiscal year 2022 earnings. According to this, total sales in the third quarter amounted to $3.19 billion, an 11% increase over the same period last year.

Among these, subscription and software-as-a-service (SaaS) revenues amounted to $820 million, up 21% year-over-year.

Operating profit was $519 million, up 21% year-on-year.

“Customers are evolving their strategies from ‘cloud first’ to ‘cloud smart,’ choosing the right cloud and cloud services for their workloads and transitioning to a multi-cloud environment,” said Raghu Raghuram, CEO of VMware. “We will deliver a multi-cloud platform for all applications, enabling the digital transformation and enterprise control our customers need to accelerate their businesses now and in the future.”

“We continued to deliver healthy revenue growth and profitability in the third quarter, with subscription and SaaS annual recurring revenue (ARR) increasing 25% year-over-year to $3.3 billion,” said Zane Rowe, VMware senior vice president and chief financial officer. “Our third-quarter results reflect strong year-over-year growth in key product categories as we continue to deliver compelling value to customers.”