TEL AVIV - NICE Ltd. (NASDAQ:NICE) reported strong third-quarter results that exceeded analyst expectations, prompting the company to raise its full-year earnings guidance.
Still, shares fell 4% in pre-market trade.
The software company posted adjusted earnings per share of $2.88 for the third quarter, surpassing the analyst consensus of $2.68. Revenue grew 15% YoY to $690 million, also beating estimates of $683.55 million. NICE's cloud annual recurring revenue exceeded $2 billion for the quarter.
NICE CEO Barak Eilam attributed the strong performance to the company's AI innovations, stating, "We delivered an outstanding quarter and an acceleration in deal signings and bookings for our CXone AI offerings, including Copilot, Autopilot and Autosummary."
The company maintained its full-year 2024 revenue guidance of $2.715 billion to $2.735 billion but raised its adjusted EPS forecast to a range of $10.95 to $11.15, up from the previous outlook and above the analyst consensus of $10.73.
NICE reported a record high non-GAAP operating margin of 32% for the quarter, up 140 basis points YoY. Operating cash flow came in at $159 million.
"Our strength in AI-powered automated customer service and our market leading CXone platform, are reshaping the industry landscape as we continue to displace multiple on-premises and cloud customer service solution providers," Eilam added.
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