Citrix Systems Inc. CTXS delivered second-quarter 2018 adjusted earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.20 per share. The figure surged 24.3% on a year-over-year basis.Revenues increased 7.1% from the year-ago quarter to $742.4 million and comfortably surpassed the Zacks Consensus Estimate of $717 million.Citrix Systems, Inc. Price Citrix Systems, Inc. Price | Citrix Systems, Inc. QuoteProduct and license (26% of total revenues) increased 1% year over year to $192.6 million. Subscription (15%) revenues surged 49% from the year-ago to $110.8 million. Support and services (59%) revenues rose 3% on a year-over-year basis to $439.5 million.Revenues as per Product GroupWorkspace services increased 7% year over year to $455 million. Management stated that 50% of new product bookings were subscription based.Networking revenues rose 5% from the year-ago to $207 million.Content Collaboration revenues climbed 13% on a year-over-year basis to $46 million.Geographic RevenuesRevenues in Americas increased 6.7% year over year to $430.2 million. There were 60 transactions worth more than $1 million in the reported quarter.Europe, Middle East and Africa (EMEA) revenues advanced 7.7% from the year-ago quarter to $234.1 million. There were 15 transactions worth more than $1 million in the reported quarter.Asia-Pacific and Japan (APJ) revenues increased 7.1% from the year-ago quarter to $78.1million. There were eight transactions worth more than $1 million in the reported quarter.Operating DetailsNon-GAAP gross margin during the quarter came in at 87%.Non-GAAP operating margin expanded 400 basis points from the year-ago quarter to 30%.Balance Sheet & Cash FlowAs of Jun 30, 2018, cash and cash equivalents were $1.021 billion as compared with $954.7 million in the previous quarter. Cash flow from operations was $170 million for the trailing 12 months.As of Jun 30, 2018, deferred revenues grossed $1.7 billion, flat quarter over quarter.Citrix repurchased approximately 1.8 million shares during the second quarter. Moreover, roughly $500 million is still remaining under share repurchase authorization.GuidanceFor third-quarter 2018, Citrix anticipates revenues between $715 million and $725 million. The Zacks Consensus Estimate for revenues is currently pegged at $711.3 million.Non-GAAP earnings are expected between $1.23 and $1.26 per share. The Zacks Consensus Estimate for earnings is pegged at $1.22 per share.Citrix raised guidance for fiscal 2018. The company now expects revenues between $2.92 billion and $2.95 billion (up from previous guidance of $2.88 billion and $2.91 billion). The Zacks Consensus Estimate for revenues currently stands at $2.91 billion.Non-GAAP operating margin is still anticipated to be in the range of 30-31%. Moreover, non-GAAP earnings are now expected between $5.30 and $5.40 per share (previously $5.20 and $5.30 per share). The Zacks Consensus Estimate for earnings is currently pegged at $5.27 per share.Zacks Rank & Stocks to ConsiderCurrently, Citrix carries a Zacks Rank #3 (Hold).Intel Corporation INTC, Microsoft Corp. MSFT and Vishay Intertechnology, Inc. VSH are stocks worth considering in the broader technology sector. 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 Intel, Microsoft and Vishay is currently pegged at 8.4%, 12.3% and 7.9%, respectively.The Hottest Tech Mega-Trend of All Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> 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 Microsoft Corporation (MSFT): Free Stock Analysis Report Citrix Systems, Inc. (CTXS): Free Stock Analysis Report Intel Corporation (INTC): Free Stock Analysis Report Vishay Intertechnology, Inc. (VSH): Free Stock Analysis Report To read this article on Zacks.com click here.