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Citrix Beats on Q1 Earnings, Announces Buyback

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Citrix Systems Inc. (CTXS - Free Report) declared financial results for the first quarter of 2014, where both its top and bottom line surpassed the Zacks Consensus Estimate. Following the results, management declared a $1.5 billion share buyback plan.

GAAP net income, in first-quarter 2014, came in at $55.9 million or 30 cents per share compared with $59.7 million or 32 cents per share in the prior-year quarter. Quarterly adjusted earnings per share of 50 cents easily beat the Zacks Consensus Estimate of 38 cents. The total revenue stood at $750.8 million, up 10.4% year over year and also above the Zacks Consensus Estimate of $735 million.

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