PALO ALTO, Calif.--(BUSINESS WIRE)--VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, plans to announce fourth quarter and fiscal year 2020 financial results after market close on Thursday, February 27, 2020. The company will host a conference call at 1:30 p.m. PT/ 4:30 p.m. ET that day to review financial results and business outlook. A live web broadcast of the event will be available on the VMware Investor Relations website at http://ir.vmware.com. The replay of the webcast will be available for two months.
On December 30, 2019, VMware completed its acquisition of Pivotal Software, Inc. (Pivotal). As Pivotal was an entity under common control, financial statements for the combined entity for prior periods are required to be recast as if the entities were combined for all periods presented. Combined quarterly results on a GAAP basis, including consolidated statements of income and cash flow statements, as well as reconciliations to non-GAAP income and free cash flows, will be included for fiscal year 2019 and fiscal year 2020 in the upcoming fourth quarter and fiscal year 2020 earnings press release. Combined balance sheets for fiscal years 2019 and 2020 will also be recast.
Additionally, effective with the fourth quarter of fiscal year 2020, VMware will also present a new revenue line item in the upcoming earnings press release entitled “hybrid cloud subscription and SaaS.” Accordingly, reported revenue will consist of the following components: license, hybrid cloud subscription and SaaS, and services. Previously, hybrid cloud subscription and SaaS revenue was allocated between license and services revenue. In light of VMware’s recent acquisitions, management determined that effective with the fourth quarter of fiscal year 2020, revenue recognized from hybrid cloud subscription and SaaS offerings will be presented separately. Revenue from prior periods will be reclassified to conform to the fourth quarter fiscal year 2020 presentation and will be reflected in the recast quarterly financial statements for fiscal years 2019 and 2020 included in the upcoming earnings press release.
VMware software powers the world’s complex digital infrastructure. The company’s cloud, networking and security, and digital workspace offerings provide a dynamic and efficient digital foundation to customers globally, aided by an extensive ecosystem of partners. Headquartered in Palo Alto, California, VMware is committed to being a force for good, from its breakthrough innovations to its global impact. For more information, please visit https://www.vmware.com/company.html
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