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Why Citrix Systems Stock Just Crashed

TheMotleyFool

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Why Citrix Systems Stock Just CrashedPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of Citrix Systems (NASDAQ: CTXS) plummeted 14.3% through 1:15 p.m. EDT today, after the software-as-a-service (SaaS) provider announced what even it called "mixed" results in its fiscal Q2 2021 financial report.

On the one hand, Citrix beat earnings with a report of $1.24 per share (pro forma) earned, where Wall Street had been looking for only $1.19. On the other hand, though, Citrix's sales for the quarter -- $812 million -- fell well short of the $846 million that analysts had predicted.

Image source: Getty Images.

Source Fool.com

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