NEW YORK (TheStreet) -- Shares of VMWare (VMW) - Get Report are gaining 4.68% to $65.50 in after-hours trading on Monday after reporting a 2016 second-quarter earnings and revenue beat.

After the market close, the cloud software and services company reported adjusted earnings of 97 cents per share, up 5% year-over-year and above analysts' estimates of 95 cents per share.

Revenue increased 11% year-over-year to $1.69 billion in the most recent period, beating analysts' projections of $1.68 billion.

"[The second quarter] was a continuation of the good start to the year we experienced in [the first quarter], both for results and against our strategic goal of building momentum for our newer growth businesses and in the cloud," CEO Pat Gelsinger said in a statement.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.

VMWare's strengths such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: VMW

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.