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Feb. 27, 2020, 4:29 p.m. EST

VMware' adjusted profit falls short of targets

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By Micah Maidenberg

VMware Inc. reported a weaker-than-expected profit for its latest quarter.

The cloud-focused software company reported net income grew to $321 million, or 76 cents a share, in its quarter that ended Jan. 31, from $496 million, or $1.17 a share, the year earlier.

Excluding stock-based compensation and after other adjustments, VMware's earnings of $2.05 a share fell short of forecasts from analysts, who expected $2.17 a share.

Higher costs for sales and marketing, as well as general expenses, weighed on earnings.

The company reported fourth-quarter revenue of $3.07 billion, up from $2.76 billion the year earlier and better than the $2.95 billion consensus estimate compiled by FactSet.

In October, VMware completed its acquisition of Carbon Black, which focuses on cybersecurity issues. The company closed its purchase of cloud software provider Pivotal Software last December.

VMware's biggest stockholder is Dell Technologies Inc. with about 28% of shares, according to FactSet.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

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