VMware,Inc (VMW) 首席执行官 Pat Gelsinger 在 2020年 第一季度业绩 - 收益电话会议记录

[机器翻译] 电话会议 · 2019年06月06日 · 77 次阅读

VMware, Inc. (NYSE:VMW) Q1 2020 Earnings Conference Call May 30, 2019 4:30 PM ET



Paul Ziots - Vice President, Investor Relations
Pat Gelsinger - Chief Executive Officer
Zane Rowe - Chief Financial Officer

  • Paul Ziots - 投资者关系副总裁
  • Pat Gelsinger - 首席执行官
  • Zane Rowe - 首席财务官


Matt Hedberg - RBC Capital Markets LLC
Kash Rangan - Bank of America Merrill Lynch
John DiFucci - Jefferies LLC
Raimo Lenschow - Barclays Capital, Inc.
Karl Keirstead - Deutsche Bank
Walter Pritchard - Citigroup Global Markets, Inc.
Mark Murphy - JPMorgan Securities LLC
Michael Turits - Raymond James & Associates, Inc.
Keith Bachman - BMO Capital Markets
Mark Moerdler - Sanford C. Bernstein & Co. LLC
Shannon Cross - Cross Research LLC
Gregg Moskowitz - Mizuho Securities

  • Matt Hedberg - RBC Capital Markets LLC
  • Kash Rangan - 美国银行美林证券
  • John DiFucci - Jefferies LLC
  • Raimo Lenschow - 巴克莱资本公司
  • Karl Keirstead - 德意志银行
  • Walter Pritchard - 花旗环球金融有限公司
  • 马克墨菲 - 摩根大通证券有限责任公司
  • Michael Turits - Raymond James&Associates,Inc。
  • Keith Bachman - BMO资本市场
  • Mark Moerdler - Sanford C. Bernstein&Co。LLC
  • Shannon Cross - Cross Research LLC
  • Gregg Moskowitz - 瑞穗证券


Good day, ladies and gentlemen, and welcome to today's VMware First Quarter Fiscal Year 2020 Earnings Conference Call. As a reminder, today's conference is being recorded. And at this time, I would like to turn the conference over to Paul Ziots, Vice President, Investor Relations.

美好的一天,女士们,先生们,欢迎参加今天的VMware第一季度2020财年收益电话会议。 提醒一下,今天的会议正在录制中。 在这个时候,我想把会议转交给投资者关系副总裁Paul Ziots。

Paul Ziots

Thank you. Good afternoon, everyone, and welcome to VMware's First Quarter Fiscal 2020 Earnings Conference Call. On the call we have Pat Gelsinger, Chief Executive Officer; and Zane Rowe, Executive Vice President and Chief Financial Officer. Following their prepared remarks, we will take questions. Our press release was issued after close of market and is posted on our website where this call is being simultaneously webcast. Slides which accompany this webcast can be viewed in conjunction with live remarks, and downloaded at the conclusion of the webcast from ir.vmware.com.
On this call today, we will make forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially as a result of various risk factors, including those described in the 10-Ks, 10-Qs and 8-Ks VMware files with the SEC. We assume no obligation to and do not currently intend to update any such forward-looking statements. In addition, during today's call, we will discuss certain non-GAAP financial measures. These non-GAAP financial measures which are used as measures of VMware's performance, should be considered in addition to not as a substitute for or in isolation from GAAP measures.
Our non-GAAP measures exclude the effect on our GAAP results of stock-based compensation, amortization of acquired intangible assets, employer payroll tax on employee stock transactions, acquisitions, dispositions and other related items, including the gains or losses on Pivotal software and discrete items impacting our GAAP tax rate. You can find additional disclosures regarding these non-GAAP measures, including reconciliations with comparable GAAP measures in the press release and on our Investor Relations website.
The webcast replay of this call will be available for the next 60 days on our company website under the Investor Relations link. Our second quarter fiscal 2020 quiet period begins at the close of business Thursday, July 18, 2019.
With that I'll turn it over to Pat.

谢谢。大家下午好,欢迎参加VMware第一季度2020财年收益电话会议。在电话会议上,我们有首席执行官Pat Gelsinger

Pat Gelsinger

Thanks Paul. Q1 was a good start to fiscal 2020 across our diverse product portfolio. Total revenue for the quarter increased 13% year-over-year with non-GAAP earnings per share of $1.32 per share. We were especially pleased to announce important agreements during the quarter with key partners Amazon Web Services, Dell and Microsoft. our EMEA and Asia-Pacific geographies had particularly strong results in Q1 while the Americas trailed the other geos after record-breaking year-over-year growth in Q4, 2019..
VMware's vision is to deliver a software architecture that enables any app on any cloud delivered to any device. Our comprehensive strategy to deliver on this vision is increasingly being embraced by our customers to enable their digital transformations. Customers continue to look to VMware for solutions across hybrid cloud, multi-cloud, modern apps, networking and security and digital Workspace. On the hybrid cloud front, our preferred cloud offering VMware Cloud on AWS continues to accelerate with AWS and VMware delivering major new capabilities every month.
We recently announced the resale agreement enabling customers the flexibility to purchase VMware cloud on AWS through AWS in addition to VMware. PennyMac, a leading national home lender and servicer was one of the first deals closed with the AWS reseller agreement in place. We also recently announced VMware cloud on AWS availability in Canada, Mumbai, Paris and Singapore, with the service now available in 14 regions globally. VMware Cloud and AWS was recently designated FedRAMP in process on the path to authority to operate at the FedRAMP high baseline level. The high baseline requirements are used to protect the government's most sensitive unclassified data and cloud computing environments.
One example of the customer momentum and hybrid cloud we are seeing is NHS digital, the national information and technology partner for the UK's Health and Care System. They have made VMware Cloud and AWS available across its organization to help accelerate digitally enabled care. At Dell Technology World in April, Dell Technologies unveiled Dell Technologies Cloud, a new set of cloud infrastructure solutions to make hybrid cloud environments simpler to deploy and manage. Within that offering, we announced VMware cloud on Dell EMC which will provide a simple, more secure and scalable infrastructure delivered as a service to customers on-premises data center and edge locations. Featuring VMware's high performance compute, storage and networking software the service will be fully managed by VMware enabling customers to focus on business innovation and differentiation.
Dell Technologies and VMware also announced an expanded partnership with Microsoft spanning cloud and client offerings. In cloud, the newly Azure VMware solutions enables customers to capitalize on VMware Cloud Foundation, a comprehensive offering of software-defined compute, storage, networking and management that is sold and supported by Microsoft on their Azure Cloud. On the client side with this expanded agreement mutual customers will be able to use Workspace ONE to manage the full productivity features of Office 365 across devices via cloud-based integrations with Microsoft Intune and Azure Active Directory.



我们最近宣布了转售协议,使客户能够灵活地通过AWS在AWS上购买VMware云。 PennyMac是一家领先的全国房屋贷款机构和服务机构,是首批获得AWS经销商协议的交易之一。我们最近还在加拿大,孟买,巴黎和新加坡发布了有关AWS可用性的VMware云,该服务现已在全球14个地区推出。 VMware Cloud和AWS最近被指定为FedRAMP正在进行授权,以在FedRAMP高基线水平运行。高基线要求用于保护政府最敏感的非机密数据和云计算环境。

我们看到的客户动力和混合云的一个例子是NHS digital,它是英国健康与护理系统的国家信息和技术合作伙伴。他们在整个组织中提供VMware Cloud和AWS,以帮助加速数字化护理。戴尔技术公司在4月份的戴尔科技世界中推出了戴尔技术云,这是一套全新的云基础架构解决方案,可使混合云环境的部署和管理更加简单。在该产品中,我们在戴尔EMC上发布了VMware云,它将提供一个简单,更安全,可扩展的基础架构,作为服务提供给客户的本地数据中心和边缘位置。该服务采用VMware的高性能计算,存储和网络软件,将由VMware全面管理,使客户能够专注于业务创新和差异化。

戴尔技术和VMware还宣布扩大与微软的合作伙伴关系,涵盖云和客户端产品。在云中,新的Azure VMware解决方案使客户能够利用VMware Cloud Foundation,这是一种全面的软件定义计算,存储,网络和管理产品,由Microsoft在其Azure云上销售和支持。在客户端,通过此扩展协议,共同客户将能够使用Workspace ONE通过与Microsoft Intune和Azure Active Directory的基于云的集成来跨设备管理Office 365的全部生产力功能。

In addition, VMware will extend the capabilities of Microsoft Windows Virtual Desktop to enable customers to further accelerate their cloud initiatives leveraging VMware Horizon Cloud on Microsoft Azure. As a further proof to VMware's multi cloud strategy, Microsoft and VMware are also exploring initiatives to drive further integration between VMware infrastructure and Azure such as integration of VMware NSX with Azure networking and integration of specific Azure services with VMware management solutions.
We will also be exploring bringing specific Azure services to VMware on-premises customers. This announcement marks a significant step forward in the Microsoft and VMware relationship. We also recently announced VMware Cloud Foundation 3.7 which is now available in VxRail integrated with VMware's flexible full stack HCI architecture ready for line of business applications. Additionally, this release supports the deployment of VMware Horizon 7 Virtual Desktop Infrastructure. In April, HPE announced the new HPE V Sand Ready Node designed to help customers who want to build their own hybrid cloud. The Ready Node removes complexity with a pre-configured server that features an optimized balance of CPU memory and network, as well as IO controller and storage for data management and data analytics.
This quarter we continue to drive advancements across our integrated VMware vRealize Cloud Management Platform. These new product releases will combine to provide expanded self-driving operations and enhance programmable provisioning capabilities across private and hybrid clouds. We are also rapidly building out the CloudHealth platform accelerating our ability to help customers gain control of their multi cloud environments, while enabling them to achieve superior business outcomes. In Q1 as a result of the Heptio acquisition we introduced VMware essential PKS, an upstream open source Kubernetes distribution with enterprise support.
This edition rounded out our current modern apps portfolio of upstream kubernetes offerings which now allow customers to leverage either a highly customizable offering or one that is tightly integrated with vSphere and NSX. To accelerate and extend our multi cloud and kubernetes offerings, we recently acquired Bitnami, a leader in application packaging solutions providing the largest catalogue of click to deploy applications and development stacks for major cloud and kubernetes environments.
On the networking front, we updated VMware NSX-T datacenter 2.4 and NSX Cloud, the newest release of NSX data center is designed to meet the virtual cloud networking needs of both enterprises large and small. Communications service providers can leverage the cloud scale and performance of NSX-T data center to accelerate adoption of network function virtualization as they build for the 5G and Telco cloud that is just beginning to be rolled into service.
I was pleased to talk more broadly about VMware security strategy during my keynote at RSA in March. We are committed to helping remove the complexity inherent with security today, and deliver intrinsic security from endpoint to cloud. During RSA, we also introduced the VMware Service defined firewall, an innovative approach to internal firewalling that dramatically reduces the attack surface for on-premises and cloud environments with security that is an intrinsic part of the infrastructure. Customers continue to be challenged with providing employees a great digital experience across all apps and devices, while maintaining the highest security standards. Our Workspace ONE platform helps customers with this balancing act.

此外,VMware还将扩展Microsoft Windows Virtual Desktop的功能,使客户能够利用Microsoft Azure上的VMware Horizo​​n Cloud进一步加速其云计划。作为VMware多云战略的进一步证明,微软和VMware也在探索推动VMware基础架构与Azure之间进一步集成的举措,例如VMware NSX与Azure网络的集成以及特定Azure服务与VMware管理解决方案的集成。

我们还将探索将特定Azure服务引入VMware本地客户。此声明标志着微软和VMware关系向前迈出了重要一步。我们最近还发布了VMware Cloud Foundation 3.7,现在可以在VxRail中使用,集成了VMware灵活的全栈HCI架构,可用于业务线应用。此外,此版本还支持VMware Horizo​​n 7 Virtual Desktop Infrastructure的部署。 4月,HPE发布了新的HPE V Sand Ready节点,旨在帮助那些想要构建自己的混合云的客户。 Ready节点通过预先配置的服务器消除了复杂性,该服务器具有CPU内存和网络的优化平衡,以及用于数据管理和数据分析的IO控制器和存储。

本季度,我们将继续推动整合VMware vRealize云管理平台的进步。这些新产品将结合起来,提供扩展的自动驾驶操作,并增强私有云和混合云的可编程配置功能。我们还在快速构建CloudHealth平台,加快我们帮助客户控制其多云环境的能力,同时使他们能够实现卓越的业务成果。在第一季度,由于收购了Heptio,我们推出了VMware必备PKS,这是一个带有企业支持的上游开源Kubernetes发行版。


在网络方面,我们更新了VMware NSX-T数据中心2.4和NSX Cloud,NSX数据中心的最新版本旨在满足大小企业的虚拟云网络需求。通信服务提供商可以利用NSX-T数据中心的云规模和性能来加速网络功能虚拟化的采用,因为它们正在为即将投入服务的5G和Telco云构建。

我很高兴在3月份的RSA主题演讲中更广泛地讨论VMware安全策略。我们致力于帮助消除当今安全性所固有的复杂性,并提供从端点到云的内在安全性。在RSA期间,我们还引入了VMware Service定义的防火墙,这是一种内部防火墙的创新方法,可显着降低内部部署和云环境的攻击面,其安全性是基础架构的固有部分。客户继续面临挑战,即为所有应用和设备提供良好的数字体验,同时保持最高的安全标准。我们的Workspace ONE平台可帮助客户实现这种平衡。

We announced several innovations to our digital Workspace platform this quarter aimed to simplify our customers' digital Workspace journeys. Firstly, we announced the acquisition of AetherPal to extend our digital Workspace remote support capabilities. In addition, Dell unveiled Dell Technologies unified Workspace, a new offering bringing together Dell hardware services and support with Workspace ONE and secure works to transform how customers deploy, secure, manage and support endpoints.
Finally, with the announced partnership with Microsoft, mutual customers can now embrace Microsoft 365 and Workspace ONE together to meet their digital workplace needs. Reflecting on the momentum we experienced and our key Q1 announcements, VMware Cloud Foundation is now the Hybrid Cloud Infrastructure across multiple cloud models including one, customer manages clouds on custom built and hyper-converged solutions. Two, partner manage clouds such as IBM and now Azure along with our VMware cloud verified partners and three, VMware managed clouds with AWS and Dell EMC. With the expansion of our Microsoft partnership, Workspace ONE uniquely provides the best support and integration across every major client category. With our most recent NSX release, our virtual cloud network is the most comprehensive overlay Network for cloud datacenter and edge.
VMware software continues to serve as the essential ubiquitous foundation for the world's digital infrastructure. We remain committed to helping our customers harness the technology for their digital businesses and deliver superior experiences for their customers.
I'll now turn it over to Zane to talk more about our business performance.

我们本季度宣布了数字工作空间平台的几项创新,旨在简化客户的数字工作空间之旅。首先,我们宣布收购AetherPal以扩展我们的数字Workspace远程支持功能。此外,戴尔还推出了戴尔技术统一工作空间,这是一项新产品,它将戴尔硬件服务和支持与Workspace ONE结合在一起,并通过安全工作改变客户部署,安全,管理和支持端点的方式。

最后,随着与微软宣布的合作伙伴关系,共同客户现在可以将Microsoft 365和Workspace ONE结合在一起,以满足他们对数字工作场所的需求。根据我们所经历的势头和我们关键的第一季度公告,VMware Cloud Foundation现在是跨多个云模型的混合云基础架构,包括一个客户管理定制构建和超融合解决方案的云。其中两个合作伙伴管理云,例如IBM和现在的Azure,以及我们的VMware云验证合作伙伴和三个带有AWS和Dell EMC的VMware托管云。随着Microsoft合作伙伴关系的扩展,Workspace ONE独特地为每个主要客户类别提供最佳支持和集成。通过我们最新的NSX版本,我们的虚拟云网络是云数据中心和边缘最全面的覆盖网络。



Zane Rowe

Thank you, Pat and thanks to all of you for joining us today. We're pleased with our continued progress expanding our broad platform for hybrid and multi cloud environments, which is reflected in our results this quarter. Our recently announced enhanced partnerships such as those with Amazon Web Services, Dell and Microsoft have us well positioned to help customers accelerate their cloud journeys and support our future growth. In Q1, total revenue grew 13% and license revenue increased 12% year-over-year. Hybrid cloud subscription and SaaS comprised greater than 12% of total revenue and grew 35% year-over-year.
In addition to our VMware cloud provider program, the hybrid cloud subscription and SaaS category includes offerings such as Workspace ONE, Horizon Cloud, CloudHealth, Velo Cloud and VMware cloud on AWS. These services continued to drive recurring revenue growth. Q1 non-GAAP operating margin was 29.5% consistent with our guidance for the quarter and reflecting ongoing investments in our hybrid and multi cloud initiatives. Non-GAAP earnings per share for Q1 was $1.32 on a share count of 418 million diluted shares. Unearned revenue at quarter end was $7.1 billion and cash and short-term investments totaled $3.3 billion.
We saw a positive impact to both revenue and unearned revenue in Q1 due to the benefits from our sales momentum exiting the fourth quarter. Unearned revenue also benefited from an increase in the percentage of our business from hybrid cloud subscription and SaaS offerings. Growth in revenue plus the sequential change in unearned revenue for the quarter was 25% or up 20% when excluding an ASC 606 reclassification adjustment which reduced unearned revenue in Q1 of fiscal 2019. License revenue plus the sequential change in unearned license revenue grew 23% year-over-year or up 17% excluding the same 606 reclassification adjustment in Q1 of 2019.
We exited Q1 with $48 million of license backlog compared to $147 million at the end of Q4 for FY19. The NSX portfolio license bookings for Q1 increased over 40% year-over-year and NSX was included in all of our top 10 deals. We're especially pleased with the progress we're making in the number of VMware partner led deployments of NSX, an area we've been focused on for some time as we scale the business. vSAN license bookings grew over 50% year-over-year in Q1 with a total customer count growing to over 20,000. vSAN was included in 8 of our top 10 deals in Q1. We were also pleased with the performance of VxRail this quarter which included the first full quarter selling VxRail with all versions of vSAN.
This will open new market opportunities particularly through the commercial channel with Dell. EUC license bookings grew in the low teens year-over-year, driven by adoption of our subscription offerings such as Workspace ONE. EUC was included in 9 of the top 10 deals this quarter and we had our second-largest Workspace ONE deal ever with one of the world's leading manufacturers, which are using it globally across their lean mobility approach for over 30,000 employees. Over 50% of EUC product bookings are now sold to SaaS and we expect this percentage to increase over time. Core SDDC license bookings grew in the low teens year-over-year in Q1 with total Core Sddc bookings up in the low double digits.


除了我们的VMware云提供商计划,混合云订阅和SaaS类别还包括AWS上的Workspace ONE,Horizo​​n Cloud,CloudHealth,Velo Cloud和VMware云等产品。这些服务继续推动经常性收入增长。第一季度非GAAP营业利润率为29.5%,与我们本季度的指引一致,反映了我们对混合动力和多云计划的持续投资。第一季度非GAAP每股收益为1.32美元,每股摊薄股数为4.18亿股。季末收入为71亿美元,现金和短期投资总额为33亿美元。

由于我们第四季度的销售势头带来的好处,我们看到第一季度的收入和未实现收入都产生了积极影响。由于混合云订阅和SaaS产品的业务比例增加,未实现的收入也受益。当排除在2019财年第一季度减少未实现收入的ASC 606重新分类调整时,收入增长加上本季度未实现收入的连续变化为25%或增长20%。许可收入加上未实现许可收入的连续变化增长23%同比增长17%,不包括2019年第一季度的606重新分类调整。

我们在第一季度退出了4800万美元的许可证积压,相比之下在2009财年第四季度末的1.47亿美元。第一季度NSX组合许可证预订量同比增长超过40%,NSX被列入我们所有的十大交易中。我们对NSX在VMware合作伙伴领导的部署数量方面所取得的进展感到特别满意,这是我们在业务扩展时已经关注了一段时间的领域。第一季度,vSAN许可证预订量同比增长超过50%,客户总数增加到20,000多个。 vSAN被列入我们在第一季度的十大交易中的8个。我们对本季度VxRail的性能表示满意,其中包括第一个完整季度销售VxRail以及所有版本的vSAN。

这将开辟新的市场机会,特别是通过与戴尔的商业渠道。由于采用了我们的订购服务,例如Workspace ONE,EUC许可证预订量同比增长了十几岁。本季度EUC被列入了前十大交易中的9个,我们与世界领先的制造商之一签订了第二大的Workspace ONE合约,这些制造商正在全球范围内使用它,为30,000多名员工提供精益移动方案。超过50%的EUC产品预订现已出售给SaaS,我们预计此百分比会随着时间的推移而增加。核心SDDC许可预订在第一季度同比增长低于十几岁,核心Sddc预订总量增长率低两位数。

Cloud management license bookings as well as total cloud management bookings grew in the strong double digits year-over-year. Cloud management license bookings growth was driven by vRealize and CloudHealth which increased the value in hybrid cloud management solutions for our customers. Compute license bookings grew in the mid single digits driven primarily by growth in VCPP with total compute bookings up in the high single digits year-over-year. In Q1, we repurchased $591 million in stock under our current repurchase authorization which had $243 million remaining at the end of the quarter.
We're pleased to announce an additional stock repurchase authorization of $1.5 billion through the end of FY21. Q1 was a good start to FY20 and we're maintaining our positive outlook for the year, which we shared last quarter. For the full year, we continue to expect total revenue growth of 11.8% year-over-year to $10.030 billion. License revenue growth of 12.8% to $4.275 billion, a non-GAAP operating margin of 33% and non-GAAP earnings per share of $6.49 per share on a diluted share account of 417 million shares.
We also continue to expect cash flow from operations of $3.950 billion and free cash flow of $3.630 billion. For Q2, FY20 total revenue is expected to be $2.425 billion, up 11.5% year-over-year with license revenue of $1 billion, an increase of 11.1% year-over-year. We expect a non-GAAP operating margin of 32.6% and non-GAAP EPS of $1.55 per share on a diluted share account of 417 million shares. Detailed guidance for Q2 and the full year is contained in the slide deck on our website accompanying this call.
In summary, we will continue to enhance our value to customers and partners with a premium technology portfolio providing foundation for hybrid and multi cloud environments. Q1 performance has us well-positioned to execute on our plans for the year and we're reiterating our previously issued guidance for revenue growth, profitability and cash flow generation. We look forward to updating you on our progress again next quarter.
With that I'll turn the call back over to Paul.






Paul Ziots

Thanks Zane. Before we begin the Q&A I'll ask you to limit yourself to one question consisting of one part so we can get to as many people as possible. Operator, let's get started.

谢谢赞恩。 在我们开始问答之前,我会要求您将自己限制在一个由一部分组成的问题中,这样我们就可以找到尽可能多的人。 接下来,让我们开始吧。


[Operator Instructions]
And first from RBC Capital Markets we have Matt Hedberg.


首先来自RBC Capital Markets,我们有Matt Hedberg。


Hey, guys, thanks for taking my question. I wanted to start out with a high-level question here and drill down a little bit more into the expanded Microsoft relationship that you guys talked about at Dell World. And I guess at a high level, how do you think about the Azure relationship versus AWS? I'm wondering if you could talk about that from both a technical perspective as well as how you think about it contributing to top line growth.

嘿,伙计们,谢谢你提出我的问题。 我想从这里开始提出一个高级问题,并深入了解一下你们在戴尔世界谈到的扩展的微软关系。 我想在高层次上,您如何看待Azure与AWS的关系? 我想知道你是否可以从技术角度谈论这个问题,以及你如何看待它有助于增长收入。


Hey, thanks, Matt. This is Pat and appreciate the question and obviously the market interest in this was high because ultimately customers were looking and think of these as customers with big VMware footprints who are starting to take advantage of Azure, I said, boy, I'd really like to see my strategic partners come together and that was really what brought us together and thus the announcements at Dell Technology's World with Microsoft, Dell and Amazon.
And the Azure VMware solution is customer driven further enabling customers to take advantage of VMware in their Azure environment, delivered by virtual stream and cloud simple. It's Microsoft offered service in addition to that we announced the client partnership Microsoft 365 Azure AD now fully capable in a Workspace ONE environment and then some of the forward-looking things that we announced with Microsoft as well and networking management Azure services on-premise. So a very compelling announcement with them. In contrast the Amazon relationship and AWS being the preferred partnership for VMware, really the VMware cloud offering is offered by VMware is really the leading offer that we bring to the marketplace for customers to take advantage of the VMware footprint overall.
The way I like to think about this the VMware technology or the VMware Cloud Foundation is available three ways. One is customers can run it either the software or the software hardware with our HCI offering. Second is our partners can run it for the customer and examples of that are clearly IBM, the great momentum we've seen there or now Azure and the other 4,000 plus cloud partners that we have or VMware will run it for them. And we announced the VMware cloud on AWS two plus year's great momentum there, but we've also announced now VMware cloud on outpost as well as VMware cloud on Dell EMC on-premise.
So we see that now is as comprehensive hybrid cloud strategy that really is unmatched in the industry and bringing Azure into that offering, a lot of excitement from Azure centric Microsoft customers, and we continue to see great momentum for VMware Cloud Foundation on-premise and uniquely for a preferred offering with VMware cloud in AWS.


Azure VMware解决方案由客户驱动,使客户能够在Azure环境中利用VMware,简单地通过虚拟流和云提供。它是微软提供的服务,此外我们宣布客户合作伙伴关系Microsoft 365 Azure AD现在完全支持Workspace ONE环境,然后是我们在微软公布的一些前瞻性内容以及内部网络管理Azure服务。所以这是一个非常引人注目的公告。相比之下,亚马逊关系和AWS是VMware的首选合作伙伴关系,VMware提供的VMware云产品实际上是我们为市场带来的领先优势,可让客户充分利用VMware的足迹。

我喜欢考虑VMware技术或VMware Cloud Foundation的方式有三种。一个是客户可以使用我们的HCI产品运行软件或软件硬件。其次,我们的合作伙伴可以为客户运行它,其中的例子显然是IBM,我们在那里或现在看到Azure的巨大势头以及我们拥有的其他4,000多个云合作伙伴或VMware将为他们运行它。我们在AWS上宣布了VMware云计算的两年多的强劲势头,但我们现在也宣布了VMware云计算在前哨以及戴尔EMC内部部署的VMware云计算。

因此,我们看到现在是全面的混合云战略,在行业中真正无与伦比,并将Azure带入该产品,来自Azure中心微软客户的大量兴奋,我们继续看到VMware Cloud Foundation内部部署和唯一适用于AWS中VMware云的首选产品。


Hey, Matt. This is Zane. I'll just add as we continue to grow that part of the business it will be part of our VCPP revenue which I highlighted earlier was part of our hybrid cloud and SaaS category which grew 35% nicely year-over-year. So we expect that area to continue to see continued growth augmented by the Microsoft relationship.

嘿,马特。 这是赞恩。 我将继续增加业务的一部分,它将成为我们VCPP收入的一部分,我之前强调的是我们的混合云和SaaS类别的一部分,同比增长35%。 因此,我们预计该领域将继续看到微软关系增加的持续增长。


Next we have Kash Rangan from Bank of America Merrill Lynch. Please go ahead.

接下来我们有来自美国银行美林的Kash Rangan。 请继续。


Hi, congratulations on a fantastic start to the fiscal year. Pat, I had a question for you. When you look at the two big cloud providers you're partnering with AWS and Microsoft, previously the word top AWS was compression to your total available market and in Microsoft there is going to be competition so you got compression and competition, turns out that you're partnering with them. I'm just curious to see if the partnerships at a fundamental level are really driven by the customer need for these companies to integrate to the technology? Or do you think that competition and compression have really changed and that this new opportunity that you're all playing into, I don't want to put words in your mouth but it is a different one, it's not a zero-sum game, but it's net additive to everybody. So in that spectrum of zero-sum to completely additive a new world where are we and how can this -- how long can this marriage is sustained? Is it a partnership or a marriage? Thank you.

嗨,祝贺本财年的开局非常棒。 帕特,我有一个问题要问你。 当你看到你正在与AWS和微软合作的两个大型云服务提供商时,之前的顶级AWS这个词已经压缩到你的整个可用市场,而且在微软会有竞争,所以你得到了压缩和竞争,结果证明你 与他们合作。 我只是想知道基础层面的合作关系是否真的是由客户对这些公司整合到技术的需求所驱动的? 或者你认为竞争和压缩真的发生了变化,这个新的机会你们都在玩,我不想把话放在你的嘴里,但它是一个不同的,它不是一场零和游戏, 但它是每个人的净添加剂。 因此,在这个零和的范围内,我们可以完全添加一个新世界,我们怎么能这样 - 这种婚姻能持续多久? 是伴侣还是婚姻? 谢谢。


Yes and thanks for the question, Kash and appreciate the comments on a good quarter. And we really see that it's far on the end of the additive spectrum today. And ultimately if we go back to the highest level, we said it's a hybrid multi-cloud future customers now are uniformly agreeing with our positioning. Everybody believes there's going to be multiple clouds. They're going to take advantage of multiple clouds and inside of that this hybrid where I can migrate to the cloud not having to re-platform for the cloud is a powerful statement. And for that we've seen hybrid strategies now come forward from Amazon, Azure, Google, IBM have all agreed with our positioning that VMware began with five plus years ago.
So we think that positioning is highly aligned with the customer interest in the industry is all supporting it. Also clearly at this point, for us is it's about accelerating people's ability to expand their workloads, be able to move to this more efficient hybrid cloud world. And we're seeing customers accelerate their use of new technologies and NSX is a great example where they're now benefiting from that in the VMware cloud. They're able to take on more automation, reduce their, I'll say IT and operations cost because we're running that stack for them.
So we're essentially expanding the effective TAM right because we're reaching into these operational costs that they would have. So I'd say at this point I'm continuing to see the great growth race of the public clouds. Our growth rate, we would clearly say we're way on the end of the spectrum but this is additive to the business opportunity for us long term, and every evidence we're getting from customers is we're on the right track.





Next from Jefferies we have John DiFucci. Please go ahead.

接下来是Jefferies,我们有John DiFucci。 请继续。


Thank you. Pat and Zane, on echo cash, the results here look really strong. And that just in the face of what really looks like sort of a generally soft quarter for many infrastructure software players. And also some apps players. I don't know even you guys didn't raise guidance. I don't want to spend --I don't want to spend too much time on that because it was really strong results here, but VMware aside I guess Pat then Zane two of you have anything to contribute here. Do you have -- you have a view that we don't have right like why do you think so many others are seeing some softness out there because they are. I mean I got three companies tonight and you guys are a lot better than the other two.
I don't know. Is it -- are there hardware issues out there like with tariffs and other things which is now trickled to infrastructure software and then apps, but that seems too early for something like that to happen. Do you have any thing you can share with us here? And also why hasn't this a really affected you?

谢谢。 Pat和Zane,回声现金,结果看起来非常强劲。而这正是面对许多基础设施软件厂商看起来普遍疲软的季度。还有一些应用程序播放器。我甚至都不知道你们没有提出指导。我不想花钱 - 我不想花太多时间在这上面,因为这里真的是非常强大的结果,但是除了VMware之外我觉得帕特然后Zane你们两个人在这里有什么贡献。你有 - 你有一个观点,我们没有正确的,你为什么认为这么多人看到一些柔软,因为他们是。我的意思是我今晚有三家公司,你们比其他两家好多了。



Well, thanks John for the comments. We do think that that these mac-- some of the macroeconomic effects, they'll affect everybody right in that environment. As you've heard me say before, there's going to be some winners and losers on different technology trends in side of that. Overall, we continue to be optimistic. We can continue to be optimistic on the long-term view of the market that IT growth is going to outpace GDP growth. Enterprise and software growth will outpace IT growth. We see this sort of tech breaking out of tech and more businesses right being becoming centered on their technology differentiation.
Clearly, some of the trade aspects, some of the different cyclicality going on affects different players, but overall we remain optimistic. Our strategy is resonating well into the future and super pleased with the execution of my team to deliver a very solid quarter. Zane?

好吧,感谢John的评论。 我们确实认为这些mac--一些宏观经济效应,它们会在这种环境中影响每个人。 正如你之前听过我说的那样,对于不同的技术趋势,会有一些赢家和输家。 总的来说,我们继续保持乐观。 我们可以继续看好市场的长期观点,即IT增长将超过GDP增长。 企业和软件增长将超过IT增长。 我们看到这种技术突破了技术,更多的企业正在以技术差异化为中心。

显然,一些贸易方面,一些不同的周期性影响不同的参与者,但总体而言我们仍然乐观。 我们的战略在未来充满共鸣,并对我的团队的执行感到非常满意,以提供非常可靠的季度。赞恩?


Yes. John, I would just add to Pat's point, we're not immune to it. We feel good about the start of the year as you pointed out. And we feel like we've had some consistency as we've thought about the year, and it's playing out to some degree in to some extent as we expected. I'll also point out that the customer ROI for their investment in our product portfolio is strong. So I think that resonates. I think the strategy resonates and we're benefiting from that. I think some of what you're seeing across the broader landscape, there's some volatility and obviously uncertainty tie to the macroeconomic environment. But beyond that we're comfortable with what we're seeing early and feel good about our forecast for the year.

是。 约翰,我只想补充帕特的观点,我们不能幸免。 正如你所指出的那样,我们对今年的开始感觉很好。 而且我们觉得我们已经考虑到了这一年的一致性,而且它在某种程度上正如我们预期的那样在某种程度上发挥作用。 我还要指出,他们对我们产品组合投资的客户投资回报率很高。 所以我觉得这引起了共鸣。 我认为这个策略引起了共鸣,我们也从中受益。 我认为你在更广泛的领域看到的一些东西,存在一些波动性,并且明显的不确定性与宏观经济环境有关。 但除此之外,我们对我们早期看到的情况感到满意,并对我们对今年的预测感到满意。


Next question is from Raimo Lenschow with Barclays.

下一个问题来自Raimo Lenschow和Barclays。


Hey, congrats from me as well and I actually wanted to stay on John's point. And like we know all --we all know how the game goes and software you kind of beat and raise. And you had a good Q1, your billings was actually -- billing score was actually stronger than the results we saw on Q1 but you cannot maintain the guidance is just, Pat was that Zane kind of overruling you being his conservative sales again or if anything you see on the horizon that kind of changed your normal approach? Thank you.

嘿,恭喜我,我其实想继续留下约翰的观点。 就像我们所知道的那样 - 我们都知道游戏是如何进行的,以及你可以击败和提升的软件。 你有一个很好的Q1,你的账单实际上是 - 账单得分实际上比我们在第一季度看到的结果更强但你不能保持指导是公正的,Pat是Zane有点推翻你是他的保守销售或者如果有的话 你在地平线上看到那种改变了你的正常做法? 谢谢。


Well I'll start and Zane will certainly help me here. I mean we will say we maintain guide for the first half and for the year, right. And with it and with that we do feel comfortable. There is some uncertainty in the macro environment. We're certainly influences the view right in the marketplace. We are seeing a strong execution by our teams that are continuing to give us strength. We think our strategy is well positioned for it, but it's still early in the year. We got a lot of year to go execute yet with some of those uncertainties around us. And we're feeling quite good about the momentum that we see going into Q2 and for the second half.

好吧,我会开始,Zane肯定会帮助我。 我的意思是我们会说我们保持上半年和今年的指导,对。 有了它,我们确实感到舒服。 宏观环境存在一些不确定性。 我们肯定会影响市场中的观点。 我们看到我们的团队强有力地执行,继续为我们提供力量。 我们认为我们的战略已经做好了准备,但现在仍处于初期阶段。 我们还有很多年的时间来处理我们周围的一些不确定因素。 对于我们看到进入第二季度和下半年的势头,我们感觉非常好。


Yes, Raimo. I'd just add it, it was actually a good conversation with Pat. So I think we're aligned on this one. It's a good start to the year. We did see a little bit of FX pressure early on in the year here that came in a little bit ahead of what we would have otherwise had thought for the year. And again I think we're confident that we're not naive to think about the global uncertainty out there. And as we look at, John mentioned, some of our competitors seeing a little bit of weakness and some volatility and variability quarter-to-quarter. So again we're comfortable where, how we're positioned for the year and like the forecast.

是的,Raimo。 我只是添加它,它实际上是与Pat的良好对话。 所以我认为我们在这个问题上保持一致。 这是今年的一个良好开端。 我们确实在今年早些时候看到了一些外汇压力,这比我们原本想象的那一年有所提升。 我再次认为,我们相信我们并不天真地想到那里的全球不确定性。 正如我们所看到的那样,约翰提到,我们的一些竞争对手每季度都会看到一些弱点和一些波动性和可变性。 所以我们再次感到舒适,我们如何定位这一年并像预测一样。


Next we have Karl Keirstead with Deutsche Bank.

接下来我们有德意志银行的Karl Keirstead。


Thanks. Question for you Zane. The adjusted total billings growth of 20% was the highest we've seen in a while against a pretty tough compare. I'm wondering if you could just elaborate on that strength. I think you mentioned that the hybrid cloud SaaS bucket contributed to it, but maybe you could add a little bit more. And just further to that I know most of the DR, our maintenance renewals, so I'm wondering what that strong total billings number says about the renewal environment that you're facing through the remainder of the year. Thank you.

谢谢。 你的问题赞恩。 调整后的总账单增长率为20%,是我们在一段时间内看到的最高水平。 我想知道你是否可以详细说明这种力量。 我想你提到混合云SaaS桶对它做出了贡献,但也许你可以添加更多。 更进一步,我知道大部分DR,我们的维护更新,所以我想知道这个强大的总账单数字对于你在今年剩余时间里所面临的更新环境的说法。 谢谢。


Yes, sure, Karl. Happy to give some more color on that. I did mention that we clearly benefited from the strength that we saw in the fourth quarter. The teams have done a terrific job moving in and maintaining that momentum from the fourth quarter. So we feel good about the aggregate bookings number, SaaS bookings have been growing nicely and that's obviously a key part of the bookings element there. And then the renewals business has been strong too. We not only saw the benefit from some PSO strength in the quarter, which is from strong attach that we saw with ELAs towards the second half of last year. So we saw some good services side of the things. And then the renewals came in strong as well.
So generally speaking I'd say that's given us again the motivation to put out the guide and to maintain the guide that we put out earlier in the year, but that's the strength that you're seeing overall I'd say from the total booking side.

是的,当然,卡尔。 很乐意为此提供更多颜色。 我确实提到我们明显受益于我们在第四季度看到的实力。 从第四季开始,这些团队已经做了很好的工作并保持了这种势头。 因此,我们对总预订数量感觉良好,SaaS预订一直在增长,这显然是那里预订元素的关键部分。 然后续订业务也很强劲。 我们不仅看到了本季度一些PSO实力的好处,这是因为我们看到ELA对去年下半年的强烈支持。 所以我们看到了一些好的服务方面。 然后续约也很强劲。

所以一般来说,我会说再次给我们提供指导和维护我们在今年早些时候推出的指南的动机,但这就是你从整个预订中总体上看到的力量 侧。


Next we have Walter Pritchard with Citi.

接下来我们有花旗的Walter Pritchard。


Hi, thanks. Similar question I guess for Zane on the license billings. I think that's a bigger spread that you've seen between the billings and the revenue growth rate. And I guess is we're thinking about this going forward is there anything that I guess logically we think that you might see license revenue growth accelerated bit from where it is now. Why wouldn't that be the case and maybe a little bit more detail similar to what Karl just asked about specifically the license billing performance.

你好谢谢。 类似的问题我猜Zane对许可证的收费。 我认为这是你在账单和收入增长率之间看到的更大的差距。 而且我想我们正在考虑将来这有什么我认为逻辑上我们认为您可能会看到许可证收入增长从现在开始加速。 为什么会出现这种情况,也许还有一些类似于Karl刚才提到的有关许可证计费性能的详细信息。


Yes. It's a great question, Walter. I guess to add on to the Karl piece on total bookings, the license bookings as we've tracked and we've had some dialogue here with the team. The reason you'll see that spread increase I'd say for a period would be the growth that we've seen in SaaS bookings versus what comes to revenue. As you know, with the perpetual product the license bookings will translate into revenue faster than the SaaS bookings will translate into SaaS revenue. So we've been very pleased with the strength we've seen on the SaaS booking side. And as you would expect with any type of SaaS products and with our growing portfolio of SaaS products, you'll see more and more bookings come in and then the revenue will ramp as you would expect with any kind of SaaS products.
So it's a great observation. We like the strength we're seeing on both and again I point on the fourth quarter is both for total bookings, as well as SaaS bookings and license bookings. The strength we're seeing will obviously continue through the course of the year, but that discrepancy between the bookings and the revenue will be driven by unearned revenue on the SaaS side.




And just to pile onto that a bit, we've been emphasizing the hybrid cloud SaaS component of our business. And now up to 12% now of our business we're seeing the growth rate 35% this quarter. These are good numbers and the strategic relevance of VMware Cloud. We've expanded that VMware Cloud on outpost, VMware Cloud on Dell EMC, the expanding role of CloudHealth more of our Workspace ONE as a subscription and a service the VCPP strength, all of these are emphasizing in a direction that we as a company are highly committed to go drive this portion of our business over time. And starting to see that effect will have some of the financial implications, Zane, but it also is creating the strategic implications that we think is giving us the ability to present more value to our customers and right above some of these other effects that we might be seeing in the market.

而且为了实现这一目标,我们一直在强调业务的混合云SaaS组件。 而现在我们的业务高达12%,我们看到本季度的增长率为35%。 这些都是很好的数字和VMware Cloud的战略相关性。 我们在前哨基础上扩展了VMware Cloud,在戴尔EMC上扩展了VMware Cloud,扩展了CloudHealth的作用,扩展了我们的Workspace ONE作为订阅和服务的VCPP实力,所有这些都强调了我们作为公司的方向 我们高度致力于随着时间的推移开展这部分业务。 Zane开始看到这种影响会带来一些财务影响,但它也创造了我们认为能够为我们的客户提供更多价值的战略意义,并且正好超越我们可能会产生的其他一些影响。 在市场上看到。


Next we have JPMorgan or excuse me from JPMorgan we have Mark Murphy.

接下来我们有摩根大通,或者请原谅摩根大通的Mark Murphy。


Sorry, Walter you did get cut off. Pat, I wanted to ask you if you had any thoughts on how the US Federal government's $10 billion JEDI contract will settle out just given that VMware is now the hybrid partner for both Amazon and Microsoft. You see that opportunity for VMware to participate in the JEDI contract.

对不起,沃尔特你确实被切断了。 Pat,我想问你是否有任何关于美国联邦政府100亿美元JEDI合同将如何解决的想法,因为VMware现在是亚马逊和微软的混合合作伙伴。 您看到VMware有机会参与JEDI合同。


Yes and the simple answer is our comments on the FedRAMP that we commented on in the call are exactly in that vein, right. We were off getting our FedRAMP approval. We're now in the FedRAMP approval process to achieve our ATO or authority to operate. That's a critical milestone for us as that occurs and obviously while we can't forecast the winners or losers in that and what protests may or might not occur a part of it, we are getting our offering ready to be able to be a cloud provider to government. And I'll also point out that our installed base with the federal governments with defense with the various military intelligence communities is very high.
So we see this as a significant opportunity and one that is an extension of our VMware cloud offering is quite critical to us. So we are aligning ourselves up in a way that I think positions us to be participating with that. Obviously, our partnership with Amazon of this area is very strong and important to us. And we're hopeful that becomes a nice piece of business over time.




Next from Raymond James we have Michael Turits.

接下来是Raymond James,我们有Michael Turits。


Hey, guys, good evening. Two things, one, I was wondering if you could just be a little bit more specific about the components of SaaS and hybrid that were the most meaningful contributors to growth? And also I was wondering if you could comment on that trailing of the US business ?

伙计们,晚上好。 有两件事,一件,我想知道你是否可以对SaaS和混合的组件更加具体一点,这些组件是增长最有意义的贡献者? 而且我想知道你是否可以评论美国业务的尾随?


Sure. I'll touch on the hybrid portion. I think we've laid them out, the majority of the revenue coming out of hybrid cum SaaS right now continues to be the VCPP program which as we've touched on has shown tremendous strength over the years. We've also done a great job. I also pointed out with EUC, our Workspace ONE product is now 50% SaaS. So I'd say that's another large contributor. And then on the new acquisition site, we're very excited about CloudHealth which as we acquired last year and then on the organic side we have a VMC on AWS that's showing great promise in the marketplace.
So combination with all of those and a growing portfolio continues to contribute to the 35% that we saw increase in that category.

当然。 我将触及混合部分。 我认为我们已经解决了这个问题,现在混合暨SaaS的大部分收入仍然是VCPP计划,我们已经提到这个计划多年来已经显示出巨大的优势。 我们也做得很好。 我还向EUC指出,我们的Workspace ONE产品现在是50%的SaaS。 所以我会说这是另一个重要的贡献者。 然后在新的收购网站上,我们对CloudHealth感到非常兴奋,正如我们去年收购的那样,然后在有机方面,我们在AWS上有一个VMC,它在市场上显示出巨大的潜力。



And I won't tell Paul but I'm answering the second question which we cut you off at some. I'm a nice guy he's not, but the just a geo perspective for you, we had strength in EMEA and APJ, very strong quarters for both of them. And Americas was not as strong in Q1 but we --that comes on the back of an extraordinary Q4 record-breaking results in America in Q4. And we did take the opportunity to do some territory realignments and some adjustments to or to set us up for longer-term growth. We also brought in the new Americas leader, Dom Delfino, successful, proven internal leader who's stepping into this role in Q1.
So we feel good about the geo outlook and we think that we better set ourselves up for a long-term sustained growth.

我不会告诉保罗,但我正在回答第二个问题,我们在某些问题上将你切断了。 我不是一个好人,但对你来说只是一个地理视角,我们在EMEA和APJ都有实力,两者都非常强大。 美洲在第一季度的表现并不那么强劲,但是我们 - 这是在第四季度美国第四季度创纪录的非破纪录的结果。 我们确实借此机会进行了一些领土重新调整,并对我们进行了一些调整,以便为长期增长做好准备。 我们还引入了新的美洲领导者Dom Delfino,他是一位成功的,经过验证的内部领导者,他在第一季度也加入了这一角色。



Next we have Keith Bachman with BMO Capital Markets.

接下来我们有BMO Capital Markets的Keith Bachman。


Thank you very much for taking the question. I wanted to revisit on compute specifically which has been really steady and very strong. And the context of the question is data center points even in the last quarter including Red Hat rail have gotten meaningfully worse arguably. And so I'm trying to understand what really driving the steady strength of compute and is mixed playing a role including the launch of vSphere Platinum? And Zane just as part of the question I was wondering if you could just comment on, are you still suggesting to investors that we think about compute growing, it comparable with rates to what you just provided in the current quarter. Thank you very much.

非常感谢你提出这个问题。 我想重新考虑一下那些非常稳定且非常强大的计算机。 问题的背景是数据中心点,即使在最后一个季度,包括红帽铁路已经变得有意义地恶化了。 所以我试图理解是什么真正推动了计算的稳定优势,并且发挥了作用,包括推出vSphere Platinum? Zane就像问题的一部分我想知道你是否可以评论一下,你是否仍然向投资者建议我们考虑计算增长,它与你刚刚提供的当前季度的费率相当。 非常感谢你。


Sure, Keith. I'll start then I'll hand it over to Pat. We haven't changed our longer-term outlook which is I think we've talked about for some time now which is lower single digits for compute, but we've been thrilled to be outperforming that guide and outperforming that outlook for a variety of reasons. I touched on the growth that we've seen with VCPP and how that contributes to compute license strength. So we're comfortable with where, how things are progressing there, we have not changed our longer-term outlook however.

当然,基思。 我会开始然后把它交给帕特。 我们没有改变我们的长期前景,我认为我们已经讨论了一段时间,这是计算机的低个位数,但我们很高兴能够超越该指南并超越各种各样的前景。原因。 我谈到了我们在VCPP中看到的增长以及它如何有助于计算许可证强度。 因此,我们对于那里,事情如何在那里取得进展感到满意,但我们并没有改变我们的长期前景。


Yes and obviously as customers are betting on the VMware stack compute is essential element as I've described it the sort of the springboard for all of the other products to build on top of. It was built into every one of our large deals this quarter. The emerging solutions with cloud, VMware cloud on AWS with VxRail with VMware Cloud Foundation, all of those include compute as embedded element to it. And the breadth and depth of the portfolio that builds on that it really emphasizes that central role, but now it's expanding to the whole portfolio and customers are buying the whole portfolio. The renewal comments earlier, good renewal rates expanding or roles that we have for it's also in the face of no change really is a foundational element of our portfolio that shown much more endurance and strength and really looks positive for the future.
Thank you, Keith. Oh I am sorry Keith, on the Platinum comment, I'll say we're excited about the capability. We're starting to get traction. It's not a material element to the out performance at this point. And I hope to be able to update that comment in a more positive way in a quarter or two. But at this point, we say it's not material yet but getting very early positive signs.

是的,很明显,因为客户正在押注VMware堆栈计算是必不可少的因素,因为我已经将其描述为所有其他产品构建的跳板。它在本季度的每一笔大交易中都有所体现。云计算的新兴解决方案,AWS上的VMware云以及带有VMware Cloud Foundation的VxRail,所有这些都包括计算作为嵌入式元素。而投资组合的广度和深度建立在它真正强调的核心角色上,但现在它正在扩展到整个投资组合,客户正在购买整个投资组合。之前的续约评论,良好的续约率扩大或我们所拥有的角色也面临着无变化,这确实是我们投资组合的基本要素,它显示出更多的耐力和力量,并且对未来看起来非常积极。



Next from Bernstein we have Mark Moerdler.

接下来是伯恩斯坦,我们有Mark Moerdler。


Thank you very much. And thanks for taking my question. Changing focus a little bit to look at the all the work you've done and the investments you've done on the container side of the opportunity. Can you give us some sort of color on how much is the container business at this point is versus the server virtualization business is driving revenue and how you think that's going to change over time?

非常感谢你。 谢谢你提出我的问题。 稍微改变一下焦点,看看你所做的所有工作以及你在机会的容器方面所做的投资。 您能否就我们此时的集装箱业务与服务器虚拟化业务带来多少收入以及您认为随着时间的推移会如何变化的方式给出一些颜色?


Yes. I'll say in the broadest sense and I think this would be an industry statement. Containers are very early in its life and the amount of production deployments of containers is very modest at this point. But there is consensus that people are going to move to a container centric model in the future. So it's one of these I'll say terrible wonderful situations where the business impact is quite modest at this point. But the consensus building in the industry around kubernetes and containers is really quite spectacular. And as I've described it more broadly, Mark, it's the Java of the next two decades, right. It was that important before. From a VMware perspective, VMware PKS continues to gain customer traction with the Heptio acquisition, we've expanded our portfolio.
We now have VMware PKS essentials as we've talked about full opens source version of kubernetes that we support, combined with PKS Enterprise. Our expanded position with the kubernetes community as seen at KubeCon this last week where VMware is now the second largest contributor to kubernetes and the CNCF, we're expanding our go-to-market capacity, as well as we've rolled out new partner programs in this area and with NSX-T our most recent version the enterprise PKS offering has gotten far more scalable and secure as well.
So all of these taken together VMware is looking at the kubernetes and container opportunity as a huge incremental opportunity for customers. And one that we believe we're going to be uniquely positioned to materialize in the marketplace.

是。我将从广义上说,我认为这将是一个行业声明。容器在其生命的早期阶段,此时容器的生产部署量非常适中。但人们一致认为,未来人们将转向以集装箱为中心的模式。所以这是其中之一,我会说可怕的奇妙情况,此时业务影响相当温和。但是,围绕kubernetes和容器的行业共识真的非常壮观。正如我已经更广泛地描述的那样,Mark,它是未来二十年的Java,对。之前那很重要。从VMware的角度来看,VMware PKS通过收购Heptio继续赢得客户的青睐,我们扩展了我们的产品组合。

我们现在有了VMware PKS要点,因为我们已经讨论了我们支持的kubernetes的完整开源版本,并结合了PKS Enterprise。上周我们在KubeCon上看到了kubernetes社区的扩大地位,VMware现在是kubernetes和CNCF的第二大贡献者,我们正在扩大我们的市场容量,以及我们推出了新的合作伙伴该领域的程序和NSX-T是我们最新版本的企业PKS产品,它具有更高的可扩展性和安全性。



Next from Cross Research we have Shannon Cross.

接下来是Cross Research,我们有Shannon Cross。


If you could restart your question, Shannon? We missed the first part of it.

如果你可以重新开始提问,香农? 我们错过了第一部分。


Okay, sorry. No, I'm just curious if you can talk a bit more about what you're seeing with regard to the Dell relationship cross sales with Dell sales people having VMware as part of their quotas at this point. And if you're seeing any pushback from any of your other channel partners as maybe the family is getting to be a little closer. Thank you.

哦抱歉。 不,我只是好奇你是否可以谈谈你所看到的与戴尔销售人员戴尔销售人员戴尔关系交叉销售情况,此时他们将VMware作为其配额的一部分。 如果您看到来自任何其他渠道合作伙伴的任何阻力,那么这个家庭可能会变得更近一些。 谢谢。


Thank you very much. And overall Dell, with Dell we had another strong quarter. So we've seen the Dell relationship continued to expand quite nicely. But even more than an expanding nicely what we're seeing is that the jointly engineered solutions, right, and that's really where I think the real value creation is really gaining a momentum super-excited with the announcement of the Dell Unified Workspace now fully built on Workspace ONE. The strong quarter for VxRail and you saw that in the overall HCI vSAN numbers for us and Dell's expanded programs and their partners becoming joint partners of VMware and Dell. That said the other partners and the rest of our channel is strong as well. And we saw a good growth in that area of our business.
We just completed in April our partner Leadership Summit where we've expanded our offerings and empowerment of our partners through new competencies, a new partner connect program. So Dell grew very strongly but we had good growth in the full set of partners including all of those aren't part of the Dell programs as well. And as Zane mentioned a couple of cases, we're starting to see partner generated sales of some of our new offerings, more momentum in NSX. Some of the first VMC deals done exclusively through the partner channels. And that gives us a great optimism for that area of our business going forward.

非常感谢你。整体戴尔,戴尔我们又有一个强劲的季度。所以我们看到戴尔的关系继续扩展得非常好。但是,我们所看到的不仅仅是一个非常好的扩展,那就是联合设计的解决方案,这就是我认为真正的价值创造真正让我们感到非常兴奋的是,戴尔统一工作空间现已完全建成在Workspace ONE上。 VxRail的强劲季度,您看到我们和戴尔的扩展计划及其合作伙伴成为VMware和戴尔的共同合作伙伴的整体HCI vSAN数字。这就是说其他合作伙伴和我们其他渠道也很强大。我们看到我们业务领域的良好增长。



Thank you, Shannon. We have one more question in the queue. So this will be the last question.

谢谢你,香农。 我们在队列中还有一个问题。 所以这将是最后一个问题。


The last question will come from Gregg Moskowitz with Mizuho.

最后一个问题将来自Gizg Moskowitz和Mizuho。


Okay, thank you and glad I got in under the wire. I'd like to ask a question on NSX which had another very good quarter of license bookings. Pat, can you double click on this and tell us what you're seeing in terms of demand and use cases for NSX-T and NSX-V?

好的,谢谢你,很高兴我在电线下进来了。 我想问一下关于NSX的问题,这个问题还有另外四分之一的许可预订。 Pat,你能双击这个并告诉我们你在NSX-T和NSX-V的需求和用例方面看到了什么吗?


Yes. Thank you very much and NSX continues to be a crucial product for us and a continuing to see the great results is something that brings us great encouragement for the long-term position. And as we think about NSX what it really says is that customers are looking for a way to do multi-cloud networking that isn't depending on underlying infrastructure. And this is laid out in our virtual cloud networking strategy overall. And as we think about that being extended to the edge with Velo cloud, extended into the container environment with our service mesh capabilities and our PKS offerings now becoming part of the native cloud offerings with VMware cloud on AWS, the Azure network integration.
The bundling of it into our cloud foundation and our VMC solution and our VxRail solution, it just plays a central role in the VMware strategy. In Q1, 10 of our Ten top deals included it, it also has now become part of the standard selling motion of VMware and we're seeing a great success with customers who are now adopting it not in one use case, but really across and basing on their entire networking strategy, such as with a major insurance provider this past quarter we've seen it across industries as well into financial into retail the NSX-T launched as I mentioned earlier our biggest ever launch of NSX-T 2.4. And now supporting bare metal environments and public cloud environments.
So it really has become a platform for us in every respect. And as we're looking to do more in the security space with the app defense and the new announcement of the distributed firewall capabilities, we're really delivering functionality that was never possible before. And as customers look at that it really is sort of I'll just say the customer behavior now is like, okay, how do we do NSX now as opposed to why should we do NSX are looking at competitive alternatives, it's really now a question of okay we're bought in, now where do we begin this journey with you and that's an exciting phase of our NSX journey.
And clearly with the channel partners coming in, Dell's expanded offerings here, we think that run a track for continued strategic growth in this critical area of our business for the long term.


将其捆绑到我们的云基础和我们的VMC解决方案以及我们的VxRail解决方案中,它只是在VMware战略中发挥核心作用。在第一季度,我们的10个顶级交易中有10个包括它,它现在也已经成为VMware标准销售活动的一部分,我们看到了一个巨大的成功,现在正在采用它的客户不是在一个用例中,而是真的在基于他们的整个网络战略,例如上个季度我们已经看到它在各个行业以及NSX-T推出的金融零售业务,正如我之前提到的我们有史以来最大的NSX-T 2.4发布。现在支持裸机环境和公共云环境。




Thank you, Gregg. And Pat before your final remark just to since we have a few minutes and just to prove I'm not that terrible of a guy I want to Walter to see about his second question. And if you wouldn't mind I'll actually read it. It's about the expanded set of cloud relationships such as Microsoft and platforms like outpost. Do they open up new scenarios that are seeing customers have interest including that beyond the prior backup and disaster recovery and test and dev and data center evacuation type of use cases.

谢谢Gregg。 在你最后的评论之前,帕特只是因为我们有几分钟而且只是为了证明我并不是一个我想让沃尔特看到他的第二个问题的人。 如果你不介意我真的会读它。 这是关于扩展的云关系集,如微软和前哨等平台。 他们是否开辟了新的方案,让客户感兴趣,包括超出之前的备份和灾难恢复和测试以及开发和数据中心疏散类型的用例。


Yes and we'd say generally against that every one of these is just giving more use cases that customers can take advantage of. And for instance while we've talked about burst of workloads and cloud flexibility, it's been more of a desire on the part of customers and customers really haven't been able to materialize that yet. These expanded capabilities really create integrated hybrid ability where customers really can say, oh, I really can do workload balancing now. And we're starting to see this, I'll say hybrid operation starting to emerge as a real use case. Also some of the DR use cases, storage costs and network costs really didn't allow those at scale where some of these expanded capabilities are now offering them to be the case.
Also that in a number of cases, customers weren't able to empty in with workloads that had latency or governance issues where now they can be cloud managed on-premise, it's lowering the barriers for hybrid cloud adoption on the part of customer. So every one of these we believe is accelerating the opportunity for customers to get to the cloud in a more rapid cost-efficient and agile way. And as they become more production scale, right, more proof points in the marketplace, I think it looks forward to great things to come.




Thank you, Pat.
End of Q&A



Pat Gelsinger

Very good. Well, in conclusion Q1, pleased with our continued progress. Our broad platform for hybrid and multi cloud is continuing to grow. It's continuing to become more strategic and important both to our customers but also for our partner agreements that have been announced this quarter with Amazon Web Services, with Dell and Microsoft. We see ourselves as very well-positioned to execute in our plans for the full year. And we look forward to continuing to update you on our progress again next quarter. Thank you very much.

很好。 那么,在第一季度结束时,对我们的持续进展表示满意 我们广泛的混合和多云平台正在不断发展。 它继续对我们的客户变得更具战略性和重要性,同时也是我们与戴尔和微软在亚马逊网络服务上宣布的合作伙伴协议。 我们认为自己在全年的计划中处于非常有利的地位。 我们期待下个季度继续向您介绍我们的进展情况。 非常感谢你。


And ladies and gentlemen, that does conclude our conference for today. We thank you again for joining us. You may now disconnect.

女士们,先生们,这确实结束了我们今天的会议。 我们再次感谢您加入我们。 您现在可以断开连接。


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