VMware reported financial results for the first quarter of 2015. Total revenues for the first quarter were $1.51 billion, an increase of 11% from the first quarter of 2014. License revenues for the first quarter were $576 million, an increase of 3% from the first quarter of 2014. Operating income for the first quarter was $218 million, a decrease of 9% from the first quarter of 2014. VMware’s net income for the first quarter was $196 million, or 45 cents per diluted share, down 1% per diluted share compared to $199 million, or 46 cents per diluted share, for the first quarter of 2014.

Jonathan Chadwick, chief financial officer and chief operating officer, VMware: We’re pleased with our Q1 revenue growth of 13% on a constant currency basis. We executed well in the first quarter and continued to broaden our portfolio with a range of products that will drive our growth in the future.

Other financial highlights include an operating cash flows of $683 million for the first quarter. Free cash flows for the quarter were $577 million.
Cash, cash equivalents and short-term investments were $7.23 billion, and unearned revenues were $4.74 billion as of March 31, 2015. Total revenues plus sequential change in total unearned revenues declined 1% year-over-year. License revenues plus sequential change in unearned license revenues was flat year-over-year.

[Image courtesy: VMware]