Citrix reported a strong quarter and raised its outlook as a move to refocus its efforts paid off. F5 Networks and Mellanox also reported.
The software company reported first quarter earnings of $83 million, or 54 cents a share, on revenue of $826 million, up 9 percent from a year ago. Non-GAAP earnings for the first quarter were $1.18 a share.
According to Citrix, the net figure was dinged due to restructuring and separation costs ahead of the GoTo spin-off.
Wall Street was looking for non-GAAP earnings of 92 cents a share on revenue of $788.7 million.
CEO Kirill Tatarinov said the company has made progress simplifying its product line and marketing. By product line, product and licensing revenue was up 10 percent in the quarter and software as a service sales jumped 17 percent.
For the second quarter, Citrix said revenue will be between $810 million and $820 million with non-GAAP earnings between $1.12 to $1.15 a share with of 61 cents a share to 66 cents a share.
Wall Street was expecting earnings second quarter earnings of $1.11 a share on revenue of $814 million.
For 2016, Citrix is projecting non-GAAP earnings of $4.90 to $5 a share on revenue of $3.34 billion to $3.36 billion.
Among other tech earnings:
F5 Networks reported fiscal second quarter earnings of $75.4 million, or $1.11 a share, on revenue of $483.7 million, up 2 percent from a year ago. Non-GAAP earnings were $1.68 a share, a nickel better than estimates. The company said it will also buy back an additional $1 billion in shares.
As for the outlook, F5 said that it expects third quarter non-GAAP earnings of $1.77 to $1.80 a share with revenue between $490 million to $500 million. Wall Street was expecting non-GAAP third quarter earnings of $1.73 a share on revenue of $502.7 million.
Mellanox reported a first quarter net loss of $7.2 million, or 15 cents a share, on revenue of $196.8 million, up 11.2 percent from a year ago. Non-GAAP earnings were 81 cents a share. Wall Street was expecting first quarter earnings of 75 cents a share on revenue of $191.6 million.
For the second quarter, Mellanox projected revenue of $210 million to $215 million with non-GAAP gross margins of 71 percent to 72 percent. Wall Street was looking for sales of $214.6 million for the second quarter.