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January 25, 2010

VMware shares surge on higher estimates for 2010

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The virtualization software leader has announced higher estimates for 2010 revenue leading to a surge in the share price.

For all of 2010, the company said it expects revenue between $2.45 billion and $2.55 billion, up 21 percent to 26 percent from a year earlier.

“While the economy is slowly recovering, we have improved near-term visibility as customers move forward with their IT investments,” said Chief Executive Paul Maritz in a statement.

http://www.businessweek.com/ap/financialnews/D9DF1QT01.htm