VMware stock plummets
Date: January 28, 2008
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According to VMware CEO - Diane Greene, company will not lower pricing after company's stock plummeted on Monday. Ongoing shift in revenue from licensing to services, as well slower U.S. growth relative to international markets has worried investors, who responded by depressing the stock price to levels not seen since days after the IPO.
During Q4, VMware increased its revenue 80% to $412 million, profits more than doubled, however stocks plummeted in after-hours trading on Monday, which prompted the response from company's CEO who maintained that the company will not lower product pricing in 2008. "We do think we can maintain our pricing,” Greene said on an earnings call with investors. "We anticipate continuing our pricing over the course of the year."
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