VMware Doing Great -- So Why'd It Dump the CEO?
Just weeks after VMware
unceremoniously
ditched founder and CEO Diane Greene, you'd think the company would report
poor financial results. But no; actually, the company
reported
great financial results. At least in my opinion.
Second quarter revenues of almost half-a-billion dollars were up 54 percent
compared to the same quarter last year. Profits are shining, as well -- up $14
million to $61 million in quarterly profits. And it's expecting to grow almost
50 percent this year compared to '07.
Jeepers. I guess Greene really did mess up! I'm sure there are plenty of companies
that would want her to screw them up to the tune of 50 percent growth!
Of course, those stunning growth rates did nothing to please the Brooks Brothers-clad
stock set. These clowns say VMware isn't growing as fast as they expected, making
Greene a colossal failure in their eyes. Nuts, eh?
Posted by Doug Barney on July 23, 2008