Citrix Shares Jump After Q1 Earnings

On Wednesday, April 23, 2014, Citrix

announced its first quarter earnings. Shares of the company traded up 5.29 percent or $2.96 per share in after-hours trading to $58.95. The company reported revenue of $751 million which beat estimates by $19 million, representing growth of 12 percent year-over-year. The company reported total revenue of 381 million in the first quarter of 2014; in addition, over 85 percent of Mobile sales came from its Enterprise edition. Non-GAAP earnings per share were $0.64 per share. The company currently has cash and investments of 1.8 billion. Additionally, the Board has authorized an increase of 1.5 billion in a stock buyback plan, in addition to its remaining 429 million. For full year 2014 the company is expecting net revenue to grow 8.5 percent to 10 percent.