NICE Ltd (NASDAQ:NICE) reported second-quarter FY23 non-GAAP revenue growth of nearly 10% year on year to $581.11 million, beating the consensus of $578.68 million.
Non-GAAP revenues from Cloud grew 23% Y/Y to $381.9 million, with cloud gross margin expanding 20 bps to 70.3%.
The second quarter Non-GAAP operating margin was 29.2% compared to 29.0% a year ago.
Non-GAAP net income increased 15% to $141.5 million in the quarter under review.
Non-GAAP EPS of $2.13 beat the consensus of $2.06.
NICE generated $65.3 million in operating cash flow and held $1.66 billion in cash and equivalents.
CEO Barak Eilam said, “Supported by a robust capital structure and industry-best profitability, our investments continue to deliver results highlighted by 70% growth in digital bookings and a record bookings quarter for Enlighten, our AI foundation, that underlies the entire CXone platform.”
Outlook: NICE raised FY23 Non-GAAP total revenues outlook from $2.35 billion-$2.37 billion to $2.353 billion-$2.373 billion (estimate: $2.37 billion).
The company raised Non-GAAP EPS forecast from $8.32-$8.52 To $8.40-$8.60 (consensus $8.44)
NICE expects Q3 Non-GAAP total revenues of $590 million-$600 million (estimate: $595.32 million), Non-GAAP EPS of $2.10-$2.20 (estimate: $2.13)
Price Action: NICE shares traded lower by 2.12% at $207.00 in the premarket session on the last check Thursday.
