Citrix: 2Q Earnings Snapshot
Posted July 23, 2020 7:26 am.
Last Updated July 23, 2020 7:38 am.
This article is more than 5 years old.
FORT LAUDERDALE, Fla. (AP) _ Citrix Systems Inc. (CTXS) on Thursday reported second-quarter net income of $112.9 million.
The Fort Lauderdale, Florida-based company said it had net income of 90 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.53 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The cloud computing company posted revenue of $798.9 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $767.4 million.
For the current quarter ending in October, Citrix expects its per-share earnings to range from $1.20 to $1.25. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.19.
The company said it expects revenue in the range of $750 million to $760 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $742.5 million.
Citrix expects full-year earnings in the range of $5.65 to $5.85 per share, with revenue ranging from $3.18 billion to $3.69 billion.
Citrix shares have risen 51% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1%. The stock has increased 65% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTXS at https://www.zacks.com/ap/CTXS
The Associated Press
