Citrix announces Q3 2010 earnings

Posted by Staff   |   Friday, October 22nd, 2010   |  

Yesterday Citrix announced its Q3 2010 earnings, sharing interesting details about the desktop virtualization business unit performance.

In Q3 2010 the company revenue has been $277M, an 11% increase compared to 2009 (5% of that growth comes from license revenue, $60M is the total revenue for XenDesktop).
Despite the growth, Citrix reports a 6% decline, compared to Q2, for license revenue because of the XenDesktop Trade-up promotion ended in Q2. 
An interesting information is that Citrix is on track to cover 15% of its customer base within year end with the Trade-up program, and it’s planning to make it part of the standard XenApp upgrade process in 2011.
Everything beyond the Trade-up program (new customers and licenses) translated into a revenue growth of 17% sequentially and over 200% from 2009.

Citrix scored 85 XenDesktop transactions from more than 1000 seat each, and 13 with over 5000 seats. 
More than 2/3 of them selected the XenDesktop Platinum Edition, the one that is considered enterprise-ready by Gartner.

The data center and cloud business unit, which includes XenServer and NetScaler, generated a revenue of $84M, 47% more than in 2009. Half of the 20 top deals come from enterprise accounts (but Citrix doesn’t specify if these are Fortune 100, 500 or Global 2000 companies). 19 deals were above $1M.

While Citrix performance is positive in the Americas region, with a revenue growth of 22% compared to 2009 (product licenses grew 28%), the company performance in EMEA was less impressive, with just a 9% growth, equal to $123M. Citrix reports that some European customers have been cautious and delayed purchasing decisions. This is a particularly interesting information considering that the company’s first EMEA event sold out completely weeks ahead of time and over 60% of the audience was made of first-time attendees.
APAC performance has been the best, with a revenue growth of 27% compared to 2009.

Citrix added nearly 300 people in Q3 and expects to hire the same amount for the last quarter of the year.
The company also reports a record cash flow of $190M, with a forecast for 2010 total revenue to be in between $2.04 and $2.07B.

Thanks to Seeking Alpha for the call transcript.

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