Soft­ware firm Nice beats Q3 es­ti­mates

The Jerusalem Post - - BUSINESS & FINANCE -

Is­raeli soft­ware provider Nice re­ported a higher-than ex­pected 18% rise in quar­terly net profit, boosted by con­tin­ued growth in its cloud and an­a­lyt­ics tools. Nice said on Thurs­day it earned $1.12 per di­luted share ex­clud­ing one-time items in the third quar­ter, com­pared with 95 cents a year ear­lier. Rev­enue grew 9% to $356 mil­lion, with cloud rev­enue up 20% to $120 mil­lion. Nice was fore­cast to post ad­justed EPS of $1.07 on rev­enue of $352 mil­lion, ac­cord­ing to I/B/E/S Refini­tiv. “The re­sults... re­flect our con­tin­ued fo­cus on driv­ing ex­cel­lent ex­e­cu­tion around our strate­gic pil­lars of cloud, an­a­lyt­ics and ar­ti­fi­cial in­tel­li­gence that led to strong growth on both the top and bot­tom lines,” said Nice CEO Barak Eilam. “As we look for­ward to end­ing the year on a high note, we now ex­pect to exit 2018 with a cloud rev­enue run rate of $550 mil­lion, up from our pre­vi­ous ex­pec­ta­tion of $500 mil­lion, while con­tin­u­ing to drive prof­itabil­ity.” Nice has been bank­ing on an­a­lyt­i­cal tools that al­low com­pa­nies to as­sess large amounts of data to spot fraud and se­cu­rity threats. Nice raised its 2018 ad­justed EPS fore­cast to $4.53-$4.69 from $4.46-$4.66 and its rev­enue pro­jec­tion to $1.45-$1.466 bil­lion from $1.434-$1.458 bil­lion.

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