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Citrix Systems profit misses consensus by 69.2% in Q3

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Citrix Systems profit misses consensus by 69.2% in Q3

Citrix Systems Inc. said its third-quarter normalized net income amounted to 26 cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.

EPS declined 6.6% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $42.1 million, a decline of 8.9% from $46.2 million in the prior-year period.

The normalized profit margin climbed to 10.2% from 6.1% in the year-earlier period.

Total revenue rose 7.2% year over year to $813.3 million from $759.0 million, and total operating expenses grew 8.7% on an annual basis to $735.7 million from $676.5 million.

Reported net income increased 17.8% from the prior-year period to $56.6 million, or 35 cents per share, from $48.1 million, or 29 cents per share.