Citrix Systems Boosts 2019 Guidance, Shares Up

By Michael Dabaie

Citrix Systems Inc. (CTXS) raised its full year guidance Thursday.

The information technology solutions company said it is guiding for 2019 earnings per share of $4.45 to $4.67. In July, the company guided for EPS of $3.31 to $3.62. FactSet consensus was for $3.40.

Shares rose 3%, to $106.64, in early trading.

Adjusted EPS is now forecast $5.60 to $5.70. In July, Citrix guided for $5.35 to $5.60 and FactSet consensus was $5.48.

Citrix said it expected 2019 revenue of $2.99 billion to $3.01 billion, while the July range was $2.97 billion to $3.01 billion.

Guidance reflects the expectation that subscription bookings as a percentage of product bookings will increase from just over 40% last year to about 60% to 65% in 2019, the company said.

The company also said it issued preliminary 2020 guidance, forecasting revenue growth of 3% to 4% on year. Citrix sees 2020 EPS at $3.34 to $3.54 and adjusted EPS $5.25 to $5.45.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

October 24, 2019 09:50 ET (13:50 GMT)

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