(Bloomberg) -- VMware Inc., the biggest maker of software that enables computers to run multiple operating systems, tumbled after forecasting sales that missed estimates amid cutbacks from corporate customers.
First-quarter revenue will be $1.17 billion to $1.19 billion, Palo Alto, California-based VMware said in a statement yesterday. That fell short of the analysts’ average estimate of $1.25 billion, according to data compiled by Bloomberg. The company will cut 900 jobs, exit some lines of business and consolidate facilities this year, resulting in charges of $90 million to $110 million, according to a filing.
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