Citrix: 1Q Earnings Snapshot

FORT LAUDERDALE, Fla. (AP) _ Citrix Systems Inc. (CTXS) on Wednesday reported first-quarter net income of $110.3 million.

On a per-share basis, the Fort Lauderdale, Florida-based company said it had profit of 78 cents. Earnings, adjusted for stock option expense and amortization costs, came to $1.27 per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The cloud computing company posted revenue of $719.1 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $708.3 million.

For the current quarter ending in July, Citrix expects its per-share earnings to range from $1.30 to $1.35. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.36.

The company said it expects revenue in the range of $765 million to $775 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $727.4 million.

Citrix expects full-year earnings to be $6 per share, with revenue ranging from $3.08 billion to $3.09 billion.

Citrix shares have decreased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 17 percent. In the final minutes of trading on Wednesday, shares hit $100.46, an increase of 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTXS at https://www.zacks.com/ap/CTXS