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Citrix Systems profit misses consensus by 46.8% in Q1

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Global M&A by the Numbers Q4 2023

Citrix Systems profit misses consensus by 46.8% in Q1

Citrix Systems Inc. said its first-quarter normalized net income came to 51 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS fell 5.1% year over year from 53 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $80.2 million, a decrease from $83.2 million in the year-earlier period.

The normalized profit margin dropped to 12.1% from 12.6% in the year-earlier period.

Total revenue came to $662.7 million, compared with $658.8 million in the year-earlier period, and total operating expenses increased from the prior-year period to $531.6 million from $517.5 million.

Reported net income fell 4.9% on an annual basis to $69.7 million, or 44 cents per share, from $73.3 million, or 47 cents per share.