Citrix reported better than expected fiscal third quarter earnings and raised it outlook.
The company reported third quarter earnings of $132 million, or 84 cents a share, on revenue of $841 million, up 3 percent from a year ago. Non-GAAP earnings were $1.32 a share.
Wall Street was looking for earnings of $1.19 a share on revenue of $827 million.
Citrix has refocused the company on core businesses and announced a deal to merge its GoTo unit with LogMeIn. Kirill Tatarinov, CEO of Citrix, said the strategy is paying off. The company's Workspace Services unit showed growth and software as a service sales were up 9 percent.
As for the outlook, Citrix projected fiscal 2016 revenue between $3.4 billion and $3.41 billion. Excluding the GoTo business revenue will be between $2.71 billion and $2.72 billion. Non GAAP earnings will be $5.18 a share to $5.20 a share. The outlook was ahead of Wall Street forecasts.
For 2017, Citrix sees revenue growth of 3 percent to 4 percent once the GoTo business is separated.