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(Updates with COO, analyst comment.) SAN FRANCISCO (Dow Jones)--VMware Inc.'s (VMW) second-quarter profit dropped 38% as sales of virtualization software to large corporate customers remained challenging.

Shares in VMware, which makes software designed to help customers improve computer efficiency by allowing multiple operating systems to work on the same processor, spiked Wednesday on relief that the company beat its quarterly guidance after a challenging first quarter.

By 7 p.m.

Eastern (2300 GMT), VMware shares were trading up almost 7% at $33.48, in the after market, after closing at $31.25.

Like many technology companies, VMware is shoring up earnings through cost ...
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