NICE ( (NCSYF) ) has released its Q3 earnings. Here is a breakdown of the information NICE presented to its investors.
NICE Ltd., a global leader in AI-powered customer experience software, has announced impressive third-quarter financial results, highlighting significant growth in cloud revenue and profitability. The company’s cloud revenue soared by 24% year-over-year, contributing to a total revenue increase of 15% and exceeding its high-end guidance. Operating income and earnings per share also saw substantial growth, with a 20% and 27% increase respectively in non-GAAP terms.
The company’s robust performance was driven by its strategic focus on AI innovations, particularly within its CXone platform. This focus has led to a surge in deal signings and bookings, reinforcing NICE’s position as a preferred partner for enterprises worldwide. The cloud annual recurring revenue surpassed $2 billion, underscoring the company’s successful transition to cloud-based solutions.
Key financial metrics for the quarter included a total revenue of $690 million, a non-GAAP operating margin of 32%, and a non-GAAP diluted earnings per share of $2.88. Operating cash flow reached a record $159 million, reflecting a 32% increase from the previous year. Such financial results underscore the company’s strong market position and operational efficiency.
Looking ahead, NICE continues to maintain a positive outlook, reiterating its full-year revenue guidance and raising its earnings per share guidance. With its ongoing investment in AI and cloud technologies, the company is well-positioned to sustain its growth trajectory and continue delivering value to its stakeholders.
