Israeli business software company NICE Systems Ltd. (Nasdaq: GOOD; TASE:GOOD) announced strong results for the first quarter of 2023.
Revenue was $571.9 million, up 8% from $527.4 million in the first quarter of 2022. Net profit for the first quarter of 2023 was 76. $9 million, up 33% from $57.9 million in the first quarter of 2022. Diluted earnings per share for the first quarter of 2023 increased 32% to $1.15 from 0.87 $ in the first quarter of 2022.
NICE CEO Barak Eilam said: “We are delighted to start the year on a high note as we exceeded the upper end of our guidance range for both total revenue and profit. per share. Cloud revenue grew 25% year over year. Our cloud growth continues to outpace the market, and this growth is not only unique in its scale, but also in its consistency. We also delivered another strong quarter in terms of profitability, as evidenced by continued strong growth in cloud gross margin, operating margin and record first quarter cash flow of $195 million. “
He added, “The first quarter was characterized by numerous seven- and eight-digit transactions, demonstrating our superior success rate when it comes to delivering our large-scale CXone cloud platform and Enlighten AI CX solution. . Our continued strong performance and clear market leadership is attributed to the close alignment between our strategic priorities and sharp execution centered on expanding cloud market share, advancing the AI opportunity and improving our focus on profitable growth. »
NICE raised its non-GAAP full-year 2023 revenue forecast to a range of $2.350 billion to $2.370 billion, an 8% mid-term growth from 2022. The company also raised its full-year 2023 non-GAAP earnings per share guidance to range from $8.32 to $8.52 per share, growth of 11% to mid-term compared to 2022.
NICE Systems’ stock price is currently down 3.81% on Wall Street at $184.50, giving a market capitalization of $11.5 billion.
Published by Globes, Israel business news – en.globes.co.il – May 11, 2023.
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