VMware's 2016 Revenue Increased 8% Year-on-Year
Published2017.01.31 15:34Net income increased 19% to $1.19 billion.
VMware announced its 2016 annual results.
VMware's total revenue in 2016 was $7.09 billion (approx. 8.2924 trillion won), an 8% increase from the previous year. Operating profit was $1.44 billion (approx. 1.6839 trillion won), a 20% increase compared to the previous year, and net profit was $1.19 billion (approx. 1.3918 trillion won), showing a 19% increase.
"In 2016, VMware built partnerships with various companies and expanded its product portfolio centered on a powerful hybrid cloud, the Cross-Cloud Architecture," said Pat Gelsinger, CEO of VMware. "Based on this, we will continue to strengthen our cloud strategy and support the digital transformation of enterprises to ensure robust growth in 2017."
"VMware continues its growth based on solutions that provide differentiated value to customers, with revenue increasing 8% year-over-year in 2016," said Zane Rowe, Senior Vice President and CFO of VMware. "Along with steady growth, we plan to purchase an additional $1.2 billion worth of our own shares by February 2018 to strengthen responsible management and return profits to shareholders."
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