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>>> NICE Shares Pop After Q3 Beat; Clocks 12% Revenue Growth Backed By Cloud Momentum


Benzinga

by Anusuya Lahiri

November 10, 2022


https://finance.yahoo.com/news/nice-shares-pop-q3-beat-132722257.html



NICE Ltd (NASDAQ: NICE) reported third-quarter FY22 non-GAAP revenue growth of 12.2% year on year to $554.7 million, beating the consensus of $548.8 million.

Non-GAAP revenues from Cloud grew 26% Y/Y to $330.5 million.

The non-GAAP gross margin expanded 120 bps to 73.5%, while the non-GAAP operating margin expanded 40 bps to 28.7%.

Non-GAAP EPS of $1.92 beat the consensus of $1.87.

NICE generated $94.3 million in operating cash flow and held $1.46 billion in cash and equivalents.

CEO Barak Eilam said, "We reported double-digit growth in total revenue driven by another excellent quarter in cloud revenue, which grew 27% at constant currency."

Eilam continued, "We are witnessing a dramatic shift in the enterprise software landscape that is creating massive opportunities for some and unbridgeable gaps for others."

Outlook: NICE reiterated the FY22 non-GAAP revenue outlook of $2.168 billion - $2.188 billion (consensus: $2.18 billion).

NICE boosted non-GAAP EPS from $7.33 - $7.53 to $7.40 - $7.60 (consensus: $7.45).

Price Action: NICE shares traded higher by 9.69% at $184.02 in the premarket session on the last check Thursday.

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