Citrix Systems' Q3 above projections, +3% in extended trade

|About: Citrix Systems, Inc. (CTXS)|By:, SA News Editor

Citrix Systems (NASDAQ:CTXS) registered revenue of $841M (+3% Y/Y, $14.04M above estimates), 30% operating margin, EPS of $1.32 ($0.13 above estimates), net income of $208M (vs. $168M Y/Y) and cash flow from operations of $288M (+11% Y/Y).

Revenues breakdown (on Y/Y basis): Product and license revenue – unchanged, SaaS revenue +9%, License updates and maintenance – +5%, Professional services – down 19%, Americas region – +8%, Pacific region – <1%, EMEA region – down 4%, Deferred revenue – +7% ($1.6B)

Projections: Expects $3.40B-$3.41B in net revenue and EPS of $5.18-$5.20 for FY 2016, and 3%-4% net revenue growth and operating margin of 32%-33% for FY 2017.

CEO Kirill Tatarinov: "Our strong results this quarter show clearly how our renewed focus is resonating in the marketplace. We are seeing growth in all of our core areas of business — including our Workspace Services business, which is showing improving growth for the second consecutive quarter. And we have demonstrated tremendous progress in the workforce and cultural transformation that defines us as a company and that will continue to power us forward. Our vision is clear; our strategy is crisp; and our execution has improved dramatically."

Conference call

Press release