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NICE Stock Gains On Q3 Beat, Raised FY21 Outlook

Benzinga · 11/11/2021 06:58
  • NICE Ltd (NASDAQ:NICEreported third-quarter FY21 non-GAAP revenue growth of 20% year on year to $494.4 million, beating the consensus of $465.8 million. 
  • Non-GAAP revenues from Cloud grew 29% Y/Y to $262 million.
  • Non-GAAP gross margin expanded 130 bps to 72.3%, while the non-GAAP operating margin remained firm at 28.3%.
  • 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 traded higher by 5.66% at $305.50 in the premarket session on the last check Thursday.