Citrix Systems Q3 Net Falls 38%, Revenue Outlook Misses Views
Citrix Systems Inc.'s (NASDAQ: CTXS) third-quarter profit fell 38 percent and the company offered a revenue outlook below Street views.
In extended trading, Citrix fell 5 percent to $61.35 per share.
Chief Executive Mark B. Templeton called recent results "clearly mixed," but said new products, market investments and partnership initiatives helped results.
The cloud-computing company forecast adjusted earnings of $3.22 to $3.25 per share, on revenue between $3.13 billion to $3.14 billion, versus Wall Street's expectation of $3.24 per share on revenue of $3.18 billion.
In the recent period, product and license revenue fell 4 percent to $193.15 million while "software as a service" revenue grew 12 percent to $165.3 million.
Revenue from license updates and maintenance increased 9 percent to $358.3 million.
Third-quarter earnings fell 38 percent to $47.53 million, or $0.29 per share, from $76.7 million, or $0.41 per share a year earlier. Revenue increased 6.5 percent to $759 million, from $712.7 million last year.
Adjusted earnings for the recent period equaled $0.75 per share, while analysts expected adjusted earnings of $0.73 per share, on revenue of $771.8 million.
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