VMware results beat on cloud services growth

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The company's services revenue, which accounts for majority of its total revenue, rose about 11 percent to $1.27 billion in the second quarter, in line with estimates. Last month, Dell Technologies Inc said it would pay $21.7 billion in cash and stock to buy back shares tied to its interest in VMware, returning the computer maker to the stock market without an initial public offering. VMware's net income rose 58.6 percent to $644 million, or $1.56 per share, in the second quarter ended Aug. 3.