Nice; TASE: NICE) reported second-quarter revenue of $456.0 million, an increase of 16% compared to the $393.2 million reported in the second quarter of 2020. Net profit on a GAAP basis was $44.4 million, compared to $44.6 million US$ for the second quarter of 2020. Net profit margin decreased to 9.7% compared to 11.3% for the second quarter of 2020. Nice Systems specializes in voice recording analysis, data security, monitoring and robotic process automation. On a non-GAAP basis, second-quarter revenue was $458.9 million, an increase of 16% compared to $395.1 million for the second quarter of 2020. Non-GAAP net profit increased 16% to $104.3 million US$89.9 million for the second quarter of 2020. The non-GAAP net profit margin was 22.7%, compared to 22.7% in the second quarter of 2020. Non-GAAP earnings per share increased in the second quarter of 2021 increased 14.6% to $1.57, compared to $1.37 for the second quarter of 2020. Analysts’ consensus estimate for the second quarter was earnings per share of $1.51 on revenue of $450.29 million. In its third-quarter guidance, Nice Systems indicated non-GAAP revenue of $460-470 million and fully diluted earnings per share of $1.51-1.61. For 2021 as a whole, the company expects non-GAAP revenue of $1,835-1,855, up from $1,800-1,820 million in its previous guidance. Fully diluted non-GAAP earnings per share are expected to be in the $6.26-6.46 range, above the previous guidance range of $6.19 to $6.39. The analyst consensus estimate for 2021 is revenue of $1.82 billion and earnings per share of $6.29. Barak Elam, CEO of Nice Systems, said, “We are very pleased with the accelerated top-line growth of 16% in the second quarter, which resulted from the combination of strong growth in the cloud and an increase in cloud revenue to more than 50% of our total revenue. Strong Q2 performance across all key metrics driven by strong implementation in cloud, digital and AI, continued success with CXone in large organizations and rapid growth in international markets.Digital transformation is still in its early stages, and as a clear market leader, we believe we will achieve the same outstanding success. In the digital sphere as in the cloud.” On the Tel Aviv Stock Exchange, Nice Systems’ share price fell 1.43% to NIS 873.90. In early New York trading, Nice Systems’ share price was down 1.77% to $272.45. The company’s market capitalization is $17.4 billion. The stock price started in 2021 at $281.51 and reached a low of $212.68 in May. Published by Globes, Israel business news – en.globes.co.il – August 5, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2020
Nice Systems Beats Analysts in Q2, Sparks Guidance
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