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Israel's Nice Q3 profit jumps, raises 2021 estimates

Israel's Nice Q3 profit jumps, raises 2021 estimates

reuters.com · 11/11/2021 06:36
Israel's Nice Q3 profit jumps, raises 2021 estimates

- Israeli enterprise software provider Nice Ltd NICE.TA reported a larger-than-expected increase in third quarter net profit and raised its profit and revenue outlook for 2021.

Nice NICE.O said on Thursday it earned $1.68 per diluted share excluding one-time items in the quarter, compared with $1.41 a year earlier. Revenue grew 20% to $494.4 million, with cloud revenue up 29% to $262 million.

Nice was expected to post adjusted EPS of $1.58 on revenue of $466 million, according to a forecast from I/B/E/S Refinitiv.

"Much of the platform success is happening at the high end of the market where we witnessed an increase of 46% in large enterprise deals,” said CEO Barak Eilam, noting that digital revenue grew by 78% in the third quarter.

Nice raised its 2021 estimates, forecasting adjusted EPS of $6.43-$6.53, up from a prior $6.26-$6.46, and revenue of $1.90-$1.91 billion, up from $1.835-$1.855 billion.


(Reporting by Ari Rabinovitch
Editing by Steven Scheer)

((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))