(Updates with closing price in second paragraph.)
Oct. 27 (Bloomberg) -- Citrix Systems Inc., the enterprise software maker, gained the most in almost 15 months after it reported third-quarter results that beat analysts’ estimates.
Shares of Fort Lauderdale, Florida-based Citrix rose 17 percent to $75.35 at the close in New York, the biggest daily gain since July 29, 2010. The stock had dropped 6.1 percent this year before today.
Citrix, which has been investing in cloud-based technology, cited a 20 percent rise in online-services revenue during the period. This month it announced the acquisition of ShareFile, a provider of so-called cloud-based data storage, or centers where companies can store information on the web. The company completed a deal for Cloud.com in the quarter.
“The investments we’ve made over the past year in people, infrastructure, innovation and go-to-market is powering growth through geographical reach and business model diversity,” Mark Templeton, Citrix’s chief executive officer, said in a statement today.
Third-quarter profit excluding some items was 64 cents a share, beating the average estimate of 58 cents from 27 analysts surveyed by Bloomberg. Revenue was $565 million, up 20 percent from a year earlier. Analysts had forecast $545 million.
Citrix said it expects profit this quarter will be 75 to 76 cents a share. Analysts had projected 74 cents. Profit for the full year excluding certain items will be $2.45 to $2.46 a share, up from the company’s prior guidance of $2.38 to $2.41.
“There were some concerns that the challenging macro environment is going to have some impact on their products,” said Kirk Materne, an analyst at Evercore Partners Inc. in New York, who has an “overweight” rating on the shares. “The results shows the concerns are unfounded and allays market concerns about the competitive position of their products.”
--Editors: Niamh Ring, Donna Alvarado
-0- Oct/27/2011 16:38 GMT
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