NICE Stock Gains on Q3 Beat, Raised FY21 Outlook

By Benzinga
Benzinga
Benzinga
November 12, 2021 Updated: November 12, 2021

NICE Ltd. reported third-quarter FY21 non-GAAP revenue growth of 20 percent year on year to $494.4 million, beating the consensus of $465.8 million.

Non-GAAP revenues from Cloud grew 29 percent Y/Y to $262 million.

Non-GAAP gross margin expanded 130 bps to 72.3 percent while the non-GAAP operating margin remained firm at 28.3 percent.

Non-GAAP EPS of $1.68 beat the consensus of $1.58.

NICE generated $103.5 million in operating cash flow and held $1.5 billion in cash and equivalents.

“The excellent results across the board in Q3 reflect our leadership and the strategic, central role we play amid four key dynamics that are taking place in our industry—cloud, digital, AI, and the shift to platforms,” said Barak Eilam, CEO of NICE.

Outlook

NICE raised FY21 revenue guidance from $1.835 billion–$1.855 billion to $1.899 billion–$1.909 billion against the consensus of $1.85 billion.

NICE lifted the non-GAAP EPS outlook from $6.26–$6.46 to $6.43–$6.53, above the consensus of $6.37.

Price Action

NICE shares closed higher by 6.78 percent at $308.73 on Thursday.

By Anusuya Lahiri 

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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