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- NICE Ltd NICE shares are gaining Thursday morning following its beat and raise quarterly performance.
- NICE reported first-quarter FY23 revenue growth of 8% year-over-year to $571.9 million, beating the consensus of $564.8 million.
- Cloud revenue grew by 25% Y/Y to $367.6 million. Adjusted Cloud gross margin was 70% compared to 68.6% last year.
- Adjusted gross margin contracted by 135 bps to 71.7%. Adjusted operating income increased by 10% to $163.4 million, and the margin expanded by 30 bps to 28.6%.
- Adjusted EPS was $2.03, beating the consensus of $1.98.
- NICE generated $195.1 million in operating cash flow and held $1.68 billion in cash and equivalents at the end of the quarter.
- "The first quarter was characterized by many seven-digit and eight-digit deals, demonstrating our superior win rate when it comes to delivering our CXone cloud platform at scale and our Enlighten AI CX solution," commented Barak Eilam, CEO of NICE.
- 2Q23 Guidance: NICE sees adjusted revenues of $573 million-$583 million versus a consensus of $577.36 million and Adjusted EPS of $2.00-$2.10 versus a consensus of $2.04.
- FY23 Guidance, raised: The company sees adjusted total revenues of $2.35 billion- $2.37 billion (prior $2.345 billion-$2.365 billion) versus consensus of $2.36 billion.
- It expects Adjusted EPS of $8.32-$8.52 (prior $8.28-$8.48), versus consensus of $8.39.
- Price Action: NICE shares traded higher by 4.87% at $199.99 premarket on Thursday.
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