Citrix Systems Shares Hammered After Q3 Profit Warning
Citrix Systems had a brutal session on Wall Street Thursday after the company told investors that revenue and profit would both be worse than earlier projections. For its fiscal third quarter, Citrix is now expecting revenue of $710 million to $712 million, compared to its previous estimate of $730 million to $740 million.
Shares dropped nearly 12 percent to $58.77 in Thursday afternoon trading.
"While we are disappointed that we fell short of our expectations this quarter, we remain confident in our strategy and markets," CEO and President Mark Templeton said in a statement.