Citrix Systems Inc. CTXS delivered third-quarter 2018 non-GAAP earnings of $1.40 per share, beating the Zacks Consensus Estimate by 15 cents. The figure surged 14.8% on a year-over-year basis.Revenues increased 6% from the year-ago quarter to $732.5 million and comfortably surpassed the Zacks Consensus Estimate of $723 million.Product and license (23.3% of total revenues) increased 1.3% year over year to almost $171 million. Subscription (15.2%) revenues surged 37.1% from the year-ago figure to $111.5 million. Support and services (61.4%) revenues rose 2% on a year-over-year basis to almost $450 million.Citrix reported 55 transactions worth more than $1 million in the reported quarter, primarily from technology, healthcare and government sectors.Revenues as per Product GroupWorkspace services increased 7% year over year to $462 million due to rapid adoption of unified workspace solutions. Management stated that approximately 50% of new product bookings were subscription based.Networking revenues rose 5% from the year-ago to $195 million. Management is elated that subscription based revenues increased 95% from the prior-year figure on the back of hybrid cloud offerings.Content Collaboration revenues climbed 12% on a year-over-year basis to $47 million. With ShareFile is gaining traction for the company’s enterprise Workspace customers, management anticipates integrating Content Collaboration business with Workspace results during 2019.Geographic RevenuesRevenues in Americas increased 6.5% year over year to $432.7 million. Europe, Middle East and Africa (EMEA) revenues advanced 6.6% from the year-ago quarter to $228.2 million. Asia-Pacific and Japan (APJ) revenues increased 1.6% from the year-ago quarter to $71.6 million.Citrix Systems, Inc. Revenue (TTM) Citrix Systems, Inc. Revenue (TTM) | Citrix Systems, Inc. QuoteMargin DetailsNon-GAAP gross margin during the reported quarter came in at 87.7%. Non-GAAP operating margin was reported at 31.8%, which expanded by 20 basis points from the year ago figure of 31.6%.Balance Sheet & Cash FlowAs of Sep 30, 2018, cash and cash equivalents were $1.205 billion as compared with $1.021 billion in the previous quarter. Cash flow from operations was reported at $301 million.Deferred and unbilled revenues of $1.9 billion grew approximately 11% year over year.Citrix repurchased approximately 1.1 million shares during the third quarter. Moreover, roughly $398 million is still remaining under share repurchase authorization.The company increased ongoing share repurchase program by $750 million and announced the first-ever quarterly dividend payment of 35 cents to be paid on Dec 21, 2018. Citrix Systems, Inc. Price, Consensus and EPS Surprise Citrix Systems, Inc. Price, Consensus and EPS Surprise | Citrix Systems, Inc. QuoteGuidanceFor fourth-quarter 2018, Citrix anticipates momentum in the adoption of subscription-based solutions to continue.Citrix raised guidance for fiscal 2018. The company now expects revenues between $2.95 billion and $2.97 billion (up from previous guidance of $2.92 billion and $2.95 billion). The Zacks Consensus Estimate for revenues is pegged at $2.95 billion.Non-GAAP operating margin is now anticipated to be in the range of 30.5-31.5% compared with the earlier band of 30-31%. Moreover, non-GAAP earnings are now expected in the range of $5.55-$5.60 per share (previously $5.30-$5.40 per share). The Zacks Consensus Estimate for earnings is pegged at $5.37 per share.For 2019, Citrix anticipates revenues to grow 4%. Subscription bookings as a percentage of total product bookings are projected to come in at 50-55%. Non-GAAP earnings are projected at $6.00 per share.Zacks Rank & Stocks to ConsiderCitrix carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector include Nikon Corp. NINOY, Cadence Design Systems CDNS and Vishay Intertechnology VSH. All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for Nikon, Cadence and Vishay Intertechnology is projected to be 22%, 12% and 9.2%, respectively.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nikon Corp. (NINOY): Free Stock Analysis Report Cadence Design Systems, Inc. (CDNS): Free Stock Analysis Report Citrix Systems, Inc. (CTXS): Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research