NICE Systems reports strong Q1, raises guidance

Barak Eilam Photo: Eyal Izhar

Revenue and earnings per share rose 12% and 58% respectively in the first quarter.

Israeli business software provider NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) has raised its guidance after reporting strong results for the first quarter of 2019.

Revenue rose 12% in the first quarter of 2019 to $378 million from $337 million in the corresponding quarter of 2018. Earnings per share rose 58% in the first quarter to $0.58 per share from $0.37 in the corresponding quarter of 2018. Non-GAAP net profit was $75.5 million, up from $60 million in the corresponding quarter of last year.

NICE Systems raised its earnings per share guidance for 2019 to the $5.11 - 5.31 range per share.

NICE CEO Barak Eilam said, “The first quarter marked a very strong start to the year as we reported accelerated growth with double-digit increases in all key metrics, including total revenues, cloud revenues, operating income and earnings per share. Moreover, we continued to benefit from the leverage in our operating model as reflected in the significant expansion in our operating margin."

He added, “The strong start to the year was driven by the more than 30% increase in cloud revenue with our CXone platform as the underpinning of that growth. We are now taking the next step in the evolution of CXone by ushering in a new era in CX with the introduction of smart digital conversations. This builds on our CXone platform strategy with an additional market leading innovation that enables our customers to accelerate their transition in managing digital experiences. This innovation is augmented by the acquisition of Brand Embassy, announced earlier today.”

In premarket trading on Nasdaq, NICE's share price is up 3.38% at $137.69, giving a market cap of $8.35 billion.

Published by Globes, Israel business news - en.globes.co.il - on May 16, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Barak Eilam Photo: Eyal Izhar
Barak Eilam Photo: Eyal Izhar
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