vmware has announced the results for the fourth quarter of its fiscal year 2023, as well as those of the whole year. Revenue for the last quarter of the company’s fiscal year 2023, which had a week longer than the same period in 2022, reached $3.71 billion, a figure that represents a year-on-year increase of 5%.
The sum of revenues from licenses and SaaS in said quarter reached 2,030 million dollars, 7% more than what was entered for both concepts in the last three months of VMware’s fiscal year 2022. In total, subscription and SaaS revenue ($1.18 billion, up 36%) accounted for 32% of the company’s total quarterly revenue.
Approximately 10% of this revenue corresponds to the additional week that last quarter had for VMware. On the other hand, the operating cash flow of the company reached 1,630 million dollars. The company’s free cash flow for the quarter was $1.51 billion.
As for VMware’s revenues for its entire fiscal year 2023, they reached $13.35 billion, 4% more than in the previous year. The sum of revenue from subscriptions, SaaS and licenses for the company reached 6,580 million dollars, an amount 8% higher than that of fiscal year 2022.
Subscription and SaaS revenue achieved by the company in its fiscal year 2023 is 30% of the total. They reached 4,010 million dollars, 25% more than those achieved in its fiscal year 2022. As for recurring revenue from subscriptions and SaaS, they reached 4,660 million dollars, 30% more than the previous year. The annual operating cash flow was 4.300 million dollars, and the free cash flow was 3.850 million dollars.
Rahu Raghuram, CEO of VMwarehas highlighted that they are «very pleased with our fiscal 2023 results. These results reflect continued customer appetite for our multi-cloud offerings and our ability to help businesses with a cloud smart approach. We look forward to the merger with Broadcom, which is expected to close in Broadcom’s current fiscal year, as our combined solutions will allow customers greater choice and flexibility to build, run, manage, connect and protect their applications at scale.«.
As to Zane Rowe, Vice President and CFO of VMwarehas stressed that they have obtained «a strong performance to close out our fiscal year 2023, achieving more than $13 billion in revenue and $4 billion in subscription and SaaS revenue. The increase in subscription and SaaS revenue levels reflects the strength of our solutions portfolio and progress in our business model transition«.
