Citrix on Wednesday released its financial results for the fiscal second quarter 2013, reporting non-GAAP earnings of $0.66 on revenues of $730 million, up 19 percent from the year-ago quarter and beating Wall Street estimates.
Analysts were expecting non-GAAP quarterly earnings of $0.64 per share on revenues of $710.33 million.
The company's shares (CTXS) were up 5 percent, to 70.50, in after-hours trading.
It's a strong showing from the networking company that follows a similarly strong performance by peer VMware yesterday evening.
"I continue to hear from CIOs about how they are challenged by the transformation, consumerization and fragmentation that is taking place in computing," president and chief executive Mark Templeton said in a statement. "Our long-term strategy remains focused on helping our customers as they deal with these areas—using cloud services and business mobility to improve the security and agility of their infrastructure."
Profit was down quite a bit year-over-year, from $92 million (GAAP) in 2Q12 to $64 million this quarter. In non-GAAP terms, quarterly profit dropped from $135 million to $124 million.
More quarterly numbers of note:
- Product and license revenue increased 21 percent from the year-ago quarter
- Software as a service revenue increased 15 percent from the year-ago quarter
- Revenue from license updates and maintenance increased 18 percent from the year-ago quarter
- Professional services revenue (consulting, product training and certification) increased 25 percent from the year-ago quarter
- Deferred revenue totaled $1.3 billion as of June 30, up 24 percent from a year ago
- Cash flow from operations was $209 million, compared with $168 million during the year-ago quarter
As for the global revenue spread, the Americas region led the way with an increase of 24 percent; it was followed by the Europe, Middle East and Africa region with 16 percent and the Pacific region with 10 percent.
As for the Q3 outlook, Citrix predicted non-GAAP earnings of $0.72 to $0.73 on revenues of between $730 million and $740 million.
For the fiscal year 2013, Citrix predicted non-GAAP earnings of $3.09 to $3.11 on revenues of between $2.96 billion and $2.98 billion. Analysts expectations hug the low end of that range.