Tech Company Stocks In Q1: Who Gained? Who Lost?
Submitted by Rick Whiting on
VMware
CEO: Pat Gelsinger
Dec. 30, 2016: $78.73
March 31, 2017: $92.14
Change: +17.03%
While VMware's stock suffered a significant decline in 2015 when the Dell-EMC deal was announced, the stock has bounced back in the last year.
On March 30 VMware unveiled a deal with Dell Technologies under which VMware is repurchasing $300 million of VMware Class A common stock held by a Dell subsidiary. The plan is part of a previously announced $1.2 billion buyback authorization that extends through fiscal 2018. Dell will use the proceeds to repurchase Dell tracking stock for VMware – part of Dell's acquisition last year of EMC, which owned a majority stake in VMware.
For all of 2016, VMware reported revenue of $7.09 billion, up nearly 8 percent from $6.57 billion in 2015. Net income for the year grew more than 19 percent to $1.19 billion from $997 million in 2015.