Citrix -5.5% as new product/licenses drag on revenues

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

Citrix Systems (NASDAQ:CTXS) is off 5.5% in postmarket action after a Q1 report where profits beat Street expectations but revenue that grew fractionally missed consensus slightly, and current-quarter guidance came in below forecasts.

Declines in product and licensing business and in professional services were offset by increases in its key stream of license updates and maintenance.

Deferred revenue came to $1.7B, up from a year-ago $1.5% (11% gain).

Revenue breakout: Product and licenses, $191.6M (down 5.2%); Software as a service, $38.7M (up 24.5%); License updates and maintenance, $402.8M (up 2.5%); Professional services, $29.6M (down 9.2%).

By geography, revenues were up in the Pacific region by 10%, up by 1% in Americas, and down in EMEA by 2%.

For Q2, it's guiding to revenue of $685M-$695M (below consensus for $695.2M) and non-GAAP EPS from continuing operations of $0.97-$1.00 (vs. consensus for $1.09).

For the full year, it forecasts revenues of $2.81B-$2.84B (vs. consensus for $2.83B) and EPS of $4.60-$4.65 (vs. $4.65 consensus).

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