SINGAPORE–(Marketwire – February 4, 2013) – City Index Asia — Virtualisation specialist VMware has announced a meagre increase in quarterly profits of just two per cent, despite sales being up by 22 per cent.
The firm, which is currently led by ex-Intel executive Pat Gelsinger, has also stated that 900 jobs are set to go.
Despite the impressive increase in revenue, profits were only up by three per cent to $745 million compared to the same period last year.
Chief executive officer Gelsinger remained upbeat about the results, and said he was confident the fortunes of the company would soon turnaround.
He said: “2012 was a strong year for VMware, with solid Q4 results despite a tough economic environment. We see a tremendous market opportunity in 2013 and beyond, as we focus on what our customers value most, VMware’s role as a pioneer of virtualisation technologies that radically simplify IT infrastructure from the datacenter to the virtual workspace.”
Investors failed to share his optimism on the markets however, with VMware’s shares plummeting by 21.54 per cent at the end of trading in New York yesterday (January 29th).
Learn about the markets and find CFD trading tips at City Index Asia.
About City Index:
Contracts for Difference (CFDs), unlike other forms of traditional trading, enable you to go short so you can potentially profit from falling prices as well as rising markets. As CFDs are a leveraged product, you can potentially enhance your return on investment.
At City Index, you can take advantage of the volatility and liquidity of the world’s largest market, trading spot FX on margin — in USD. Match your trading style with our customisable trading platform, wide range of FX pairs, adaptable lot sizes, interactive charting packages and variable leverage retail Forex offering.
This information is intended for general circulation only. It should not be construed as an investment advice or offer or solicitation to buy or sell any financial products.
CFDs and margined Forex contracts are leveraged products and may result in losses exceeding your initial outlay.
Contact:
Joshua Raymond
City Index
+44(0)20-7107-7002
joshua.raymond@cityindex.co.uk