SEC charges VMware with hiding slowing sales from investors
VMware misled investors about its order backlog management processes that allowed it to roll revenue into future quarters by postponing product delivery dates to customers to conceal slowing sales relative to forecasts.
"VMware began delaying the delivery of license keys on some sales orders until just after quarter-end so it could recognize revenue from the corresponding licenses sales in the following quarter," claimed theAccording to the Commission's order, VMware"shifted tens of millions of dollars of license sales into future quarters, building a buffer in those periods and obscuring the company's financial performance as its business slowed relative to projections in fiscal year...
Mark Cave, the federal agency's associate director in the Division of Enforcement, said:" As the SEC’s order finds, by making misleading statements about order management practices, VMware deprived investors of important information about its financial performance.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retbleed fix slugs Linux VM performance by up to 70 percentVMware ran tests on kernel 5.19 and saw some nasty numbers. Meanwhile progress on version 6.0 is steady
Read more »
VMware has clouded the SmartNIC market, not created itVirtzilla has built itself an island. Important players aren't welcome to visit and might go elsewhere
Read more »
Vile predator went to Newcastle to meet girl, 14, to ‘keep her for five days’Vile predator travelled to Newcastle to meet girl, 14, and said he would ‘keep her for five days’
Read more »
Tracking the 2023 NFL Draft: Alabama's Bryce Young shows off his superpowerBryce Young's ice-cold play down the stretch saved Alabama. It also illustrated why he will be a top pick in the 2023 NFL Draft. nickbaumgardner updates his draft stock watch:
Read more »