Why VMware Plunged 18.9% in August
Shares of VMware (NYSE: VMW) fell 18.9% in August, according to data from S&P Global Market Intelligence, after the cloud-computing and virtualization company announced strong quarterly results and also unveiled two aggressive acquisitions.
VMware stock dropped nearly 10% on Aug. 23, 2019 alone -- the first trading day after its second-quarter update hit the wires. Revenue climbed 12.2% year over year to $2.44 billion, translating to a more modest 3.9% increase in adjusted earnings to $1.60 per share. Analysts, on average, were looking for lower earnings of $1.55 per share on revenue closer to $2.40 billion.
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Source Fool.com
