UPDATE 1-Citrix Q2 profit misses Street, ups 2010 rev view

* Q2 adj EPS $0.41 vs est $0.45

* Q2 rev up 17 pct

* Ups 2010 rev view, cuts EPS view

* Shares up 4 pct

July 28 (Reuters) - Business software maker Citrix Systems Inc (CTXS.O) posted weaker-than-expected quarterly earnings, hurt by an expected 7 cents a share tax expense, but raised its full-year revenue view.

For the second quarter, the company, which develops virtualization software that allows a single computer to act like many virtual machines, posted a 12 percent increase in net income to $47.6 million, or 25 cents a share.

Excluding exceptional items, the company posted earnings of 41 cents a share. Revenue rose 17 percent to $458.4 million.

Analysts were expecting earnings of 45 cents a share on revenue of $436.9 million, according to Thomson Reuters I/B/E/S. [ID:nASA00KMG]

The company raised its full-year sales outlook range to between $1.81 billion and $1.83 billion from its previous view of $1.77 billion to $1.78 billion.

It also cut its 2010 earnings outlook range to $1.87 a share to $1.89 a share, from its prior expectations of $1.88 to $1.91 a share.

Shares of the Fort Lauderdale, Florida-based company were trading up 4 percent at $49.30 in extended trading. They closed at $47.33 Wednesday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni Menon)