In addition, Citrix is adding $500M to its buyback plan, raising its available authorization to $679M. That's good for repurchasing 6% of outstanding shares at current levels. $55.3M was spent on buybacks in Q3.
Product/license revenue (28% of total) only rose 3% Y/Y in Q3, down from 10% in Q2. Also, professional services growth fell to 9% from 37%. SaaS/cloud revenue +14% vs. +18% in Q2, license updates/maintenance +16% vs. +18%.
Americas sales +9%, EMEA +15%, Asia-Pac +7%.
A bright spot: the deferred revenue balance rose 21% Y/Y (exceeding rev. growth of 11%) to $1.27B.
Citrix says some customers are delaying buying decisions as they evaluate new PC (thin client/virtualization) and mobile software offerings. Rival VMware's own issues in this space suggest Citrix isn't alone here.