What happened VMware (NYSE: VMW) stock was down by around 7% in late afternoon trading today, following the release of the company's latest quarterly results. So what After market hours on Thursday, VMware revealed that its second-quarter 2022 revenue was $3.14 billion, a 9% improvement year over year. The cloud computing specialist's adjusted net income rode in the opposite direction, declining to $739 million ($1.75 per diluted share) from the year-ago result of $766 million. Image source: Getty Images. Both line items beat the average analyst estimates. Prognosticators following the tech stock believed VMware would post $3.10 billion in revenue, and an adjusted per-share net profit of $1.64. Meanwhile, the company lifted its earnings guidance for the entire fiscal 2022. On a conference call discussing the second-quarter results, CFO Zane Rowe said that VMware now expects to book $6.90 per share in adjusted profit, on $12.8 billion in revenue. Those figures for fiscal 2021 were $7.20 per share and $11.8 billion. Now what If VMware hits its 2022 targets, it would mean relatively low 8% revenue growth; the company has shown notably higher rates in previous years. Additionally, no one likes to hear that their investment's profitability is likely to drop (by 4% on an adjusted, per-share basis, if we go by VMware's full-year guidance). Investors might also be concerned about the changing nature of the company's top line. TheStreet.com reported that in lowering his price target slightly on the stock, BMO Capital Markets analyst Keith Bachman wrote that "the mix of revenues, with more license and less subscription and SaaS [software as a service] was disappointing." 10 stocks we like better than VMwareWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and VMware wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 9, 2021 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends VMware. The Motley Fool has a disclosure policy.Source