Broadcom revealed VMware's revenue dropped to $2.7 billion in Q2 2024, down from $3.28 billion in pre-acquisition Q1. CEO Hock Tan highlighted progress on transitioning VMware products to subscription models and increased annualized booking values.
Costs at VMware decreased from $2.3 billion to $1.6 billion under Broadcom. Tan projected further cost reduction, aiming for $1.2 billion. He anticipates VMware revenue to reach $4 billion per quarter with higher margins.
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