Citrix Systems 1Q Earnings Top Expectations

   By Stephen Nakrosis

Citrix Systems, Inc. (CTXS) on Wednesday reported first-quarter earnings that beat analysts' estimates and its own guidance.

The Fort Lauderdale, Fla.-based IT solutions company posted quarterly net income of $110.3 million, or 78 cents a share. Analysts polled by FactSet expected $101 million of profit, or 72 cents a share, while the company guided a range of 66 cents to 71 cents.

On an adjusted basis, Citrix reported earnings per share of $1.27. It had guided an adjusted EPS range of $1.15 to $1.20, while analysts were looking for $1.19 as adjusted, per FactSet.

Revenue came to $719 million, Citrix said, topping its guidance range of $700 million to $710 million and analysts' target of $708 million.

For the coming quarter, Citrix said it expects revenue in a range between $765 million and $775 million. On a GAAP basis, earning per share are expected in a range of 76 cents to 81 cents, while on an adjusted basis the company anticipates $1.30 to $1.35.

David Henshall, president and chief executive of Citrix, said, "Workspace revenue grew 13% year-over-year, its fastest rate of growth since 2012. Our subscription model transition continues to progress well, and SaaS, which accounted for 60% of our subscription business, delivered strong 43% year over year growth."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 24, 2019 17:01 ET (21:01 GMT)

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