Citrix, Equinix, Akamai report strong first quarters
Citrix, Equinix and Akamai all reported better than expected earnings on Wednesday.
Here's the recap:
Citrix delivers strong growth
Citrix reported first quarter earnings of $74 million, or 38 cents a share, on revenue of $491 million, up 18 percent from a year ago. Non-GAAP earnings were 50 cents a share. Wall Street was expecting earnings of 42 cents a share on revenue of $475 million.In a statement, Citrix CEO Mark Templeton said that demand was strong across "our core SaaS, desktop and networking markets, especially in the Americas and Pacific, supported by large, strategic technical services engagements."
For the second quarter, Citrix projected revenue of $515 million to $525 million with non-GAAP earnings of 54 cents a share to 55 cents a share. Wall Street was looking for earnings of 54 cents a share on revenue of $516.8 million.
Citrix projects 2011 revenue of $2.14 billion to $2.17 billion with non-GAAP earnings between $2.38 a share to $2.41 a share. Wall Street was expecting earnings of $2.32 a share on revenue of $2.13 billion.
Equinix ups outlook
Equinix reported first quarter earnings of $25.1 million, or 53 cents a share, on revenue of $363 million, up 46 percent from a year ago. Wall Street was expecting earnings of 29 cents a share on revenue of $355 million for the first quarter.Amid hosting and cloud consolidation, Equinix's results are going to be closely watched. The company's outlook was also strong. For the second quarter, Equinix projected revenue of $376 million to $378 million with gross margins of 65 percent. Wall Street was expecting revenue of $369 million
For 2011, Equinix projected revenue of $1.52 billion with gross margins between 65 percent and 66 percent. Wall Street was expecting revenue of $1.51 billion.