Citrix on Thursday missed Wall Street’s earnings targets for its fiscal first quarter. The company has been riding a surge in demand for its products and services amid the ongoing work-from-home wave, but said its revenue was negatively impacted by supply chain challenges and a lower-than-expected duration of on-premises term licenses. Citrix also said the first quarter marks the trough in its business model transition to the cloud. 

As for the numbers, the company reported Q1 non-GAAP earnings of $1.42 per share on revenue of $776 million. Wall Street was expecting Q1 earnings of $1.43 per share and revenue of $797 million. 

Elsewhere on the balance sheet, Citrix said Q1 subscription ARR was $1.51 billion, up 81% year over year. Meanwhile, the company said SaaS ARR came to $793 million, up 43% from a year ago. Total ARR, which combines the value of all of Citrix ‘s subscription sources as well as perpetual license…

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