From Nasdaq: 2024-11-15 10:21:00

NICE reported adjusted earnings of $2.88 per share in Q3 2024, beating estimates by 7.46% and increasing 27% year over year. Revenues of $690 million surpassed estimates by 1.07% and rose 15% year over year, driven by cloud business strength and customer base expansion. Americas revenues were $587 million, up 17% year over year, while APAC revenues declined 12% to $34 million.

Cloud revenues of $500 million missed estimates but rose 24% year over year, driven by the CXone platform. NICE surpassed $2 billion in Annual Recurring Revenue for its cloud business and saw growth in AI-powered customer service automation. Product revenues of $40 million beat estimates by 45.51% and increased 5.8% year over year.

NICE’s gross margin contracted to 71.1% in Q3 2024, with operating margin expanding to 32%. The company had cash and cash equivalents of $1.52 billion and long-term debt of $458.4 million. NICE initiated FY24 guidance with projected non-GAAP revenues between $2,715 million and $2,735 million, and earnings between $10.95-11.5 per share.

Tuya, NVIDIA, and NetApp are top stocks in the Computer & Technology sector. Tuya is set to report Q3 2024 results on Nov. 18, NVIDIA on Nov. 20 for Q3 fiscal 2025, and NetApp on Nov. 21 for Q2 fiscal 2025. The solar industry is poised for growth, with solar expected to account for 80% of renewable energy expansion, presenting investment opportunities.



Read more at Nasdaq: NICE Beats Q3 Earnings Estimates: Will Raised View Aid Shares?