Over time, Citrix models its SaaS shift like this:
Citrix
Bookings data from Citrix indicate that customers are increasingly shifting toward subscriptions of its Workplace product line. Citrix’s networking business is expected to see decreases overtime as it shifts from hardware to software.
Citrix
Citrix projected 2019 revenue of $2.99 billion to $3.01 billion with non-GAAP earnings of $5.60 a share to $5.70 a share. For 2019, Wall Street was expecting Citrix to report revenue of $2.99 billion with non-GAAP earnings of $5.48 a share. The outlook assumes that subscription revenue will be 60% to 65% of the total compared to 40% in 2018.
As for 2020, Citrix is projecting revenue growth of 3% to 4% with non-GAAP earnings of $5.25 a share to $5.45 a share. Wall Street was expecting Citrix to report non-GAAP earnings of $6.07 a share on revenue of $3.12 billion. “We expect 2020 to be the trough year for operating margin in our multi-year subscription transition,” said Citrix, which also said it will invest to scale its cloud business.
Related Topics:
Collaboration
Digital Transformation
Data Centers
CXO
Innovation
Storage