Citrix, ServiceNow, Symantec report mixed tech earnings bag

Citrix, ServiceNow, Symantec report mixed tech earnings bag

Summary: Tech earnings and the outlooks that go with them were a bit mixed as Citrix, Symantec and ServiceNow reported results.

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Citrix's fourth quarter revenue fell short of expectations, but earnings were better-than-expected and the company said CEO Mark Templeton was returning from a leave of absence.

The mobility and virtualization software company reported fourth quarter earnings of $139 billion, or 74 cents a share, on revenue of $802 million, up 8 percent from a year ago. Non-GAAP earnings for the fourth quarter were $1.04 a share. Wall Street was expecting earnings of 97 cents a share on revenue of $805.4 million.

Citrix said that its revenue for 2014 will grow 8 percent to 10 percent with non-GAAP earnings of $2.85 a share to $2.95 a share. First quarter revenue growth will also be up about 8 percent to 10 percent from a year ago with non-GAAP earnings of 57 cents a share to 60 cents a share. Wall Street expected first quarter earnings of 69 cents a share and revenue growth of 11 percent.

For 2013, Citrix reported earnings of $350 million, or $1.80 a share, on revenue of $2.92 billion, up 13 percent from a year ago.

Citrix said that its networking business was strong and the XenMobile business "showed strong momentum." Software as a service revenue in the fourth quarter was up 13 percent, but product and license sales were flat. Citrix's fourth quarter revenue was up in EMEA and the Americas, but down in Asia Pacific.

Templeton's return will last about a year. Templeton plans to retire in the next year and Citrix is looking for a successor. David Henshall, acting CEO, has been promoted to chief operating officer and will retain some of Templeton's duties. Henshall will also remain CFO.

Symantec reported a better-than-expected third quarter even as revenue fell 5 percent from a year ago. CEO Steve Bennett said that the company saw "improved total business activity" after revamping its sales org. The company reported third quarter earnings of $283 million, or 40 cents a share, on revenue of $1.7 billion. Non-GAAP earnings were 51 cents a share.

Wall Street was expecting fiscal third quarter earnings of 42 cents a share on revenue of $1.66 billion.

As for the outlook, Symantec projected fourth quarter revenue of $1.61 billion to $1.65 billion with non-GAAP earnings of 40 cents a share to 42 cents a share. Wall Street expected fourth quarter earnings of 41 cents a share on revenue of $1.65 billion.

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ServiceNow reported a fourth quarter loss of $24.2 million, or 17 cents a share, on revenue of $125.2 million, up 67 percent from a year ago. The company's non-GAAP fourth quarter loss was 2 cents a share.

Wall Street was expecting a fourth quarter loss of a penny a share on a non-GAAP basis on revenue of $120.25 million.

ServiceNow projected first quarter revenue of $133 million and $135 million with a negative operating margin of 9 percent. For 2014, ServiceNow projected revenue of $640 million to $635 million. Those projections were above expectations.

For 2013, ServiceNow reported a net loss of $73.7 million, or 54 cents a share, on revenue of $424.7 million, up 74 percent from a year ago.

Topic: Enterprise Software

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