From Nasdaq: 2024-05-09 11:50:00

Amdocs Limited reported Q2 fiscal 2024 results with earnings missing but revenues meeting estimates. Non-GAAP earnings per share were $1.56, up 6.1% from last year. North America revenues declined 0.7%, but Europe and Rest of World saw growth. Company’s backlog increased to $4.23 billion. Amdocs revised fiscal 2024 revenue and earnings guidance, expecting steady growth. The company also repurchased shares and paid dividends in Q2. They received approval for a new quarterly cash dividend. Amdocs is a Zacks Rank #3 (Hold) stock. Potential better picks include NVIDIA, Arista Networks, and Salesforce, which are Zacks Rank #2 (Buy) stocks. NVDA’s EPS estimate revised upward to $23.94, ANET’s EPS to $7.49, and CRM’s to $9.71. All three stocks have shown strong growth in the past year. Amdocs is also eyeing solid growth for the third quarter of fiscal 2024, projecting revenues and adjusted earnings in a healthy range.



Read more at Nasdaq: Amdocs (DOX) Q2 Earnings Miss Estimates, Revenues Match