UPDATE 2-Citrix Q1 results beat estimates, raises share buyback
* Q1 rev beat estimates by $10 mln
* Raises share buyback program
* Q1 adj shr beat estimates by 1 cent
* Sees FY rev flat; Q2 rev flat to slightly down (Adds details, conference call comments)
April 29 (Reuters) - Infrastructure software maker Citrix Systems Inc (CTXS.O: Cotización) posted a quarterly profit largely in-line with estimates, while revenue beat market expectations by a healthy margin, and it increased its share repurchase program by $300 million.
Shares of the company, which develops virtualization software that allows a single computer to act like many "virtual" machines, were trading up more than 4 percent in after-hours trade.
The company was experiencing a shift in business mix as customers capped expenses and initiated fewer large projects and looked more towards subscription offerings, it said in a conference call with analysts.
In the first quarter, 60 percent of the company's revenue came from subscription services while new licences contributed only 30 percent.
Citrix said it was providing less quantitative guidance than in previous quarters citing low visibility, especially for new licence revenue. Continuación...