VMware Reveals Meagre Profits and 900 Job Cuts -- City Index Asia

VMware Reveals Meagre Profits and 900 Job Cuts -- City Index Asia 
SINGAPORE -- (Marketwire) -- 02/01/13 --  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
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. 
Joshua Raymond
City Index
Press spacebar to pause and continue. Press esc to stop.