Citrix Systems Inc. CTXSdelivered first-quarter 2018 adjusted earnings of $1.29 per share, which beat the Zacks Consensus Estimate by 24 cents. The figure surged 33% on a year-over-year basis.
Revenues increased 5.2% from the year-ago quarter to $697.2 million and comfortably surpassed the Zacks Consensus Estimate of $676 million.
Product and license (23% of revenues) revenues declined 6% year over year to $160.7 million. Subscription (14.8% of revenues) revenues surged 49.3% from the year-ago to $103.2 million. Support and services (62.1% of revenues) revenues inched up 2.5% on a year-over-year basis to $433.3 million.
Revenues as per Product Group
Workspace services (59.2% of revenues) increased 3% year over year to $412.6 million. Management stated that 42% of new product bookings were subscription based.