Israel's Nice Q2 profit tops estimates, cloud revenue jumps
JERUSALEM, Aug 6 (Reuters) - Israeli enterprise software provider Nice reported a better-than-expected 10% increase in quarterly net profit, boosted by a sharp gain in revenue from its cloud platforms amid a rise in employees working from home.
Nice said on Thursday it earned $1.37 per diluted share excluding one-time items in the second quarter, compared with $1.25 a year earlier. Revenue grew 4% to $395 million, with cloud revenue up 30% to $186 million.
Nice was forecast to post adjusted EPS of $1.32 on revenue of $392 million, according to I/B/E/S Refinitiv.
"The strong cloud performance demonstrates how well we are positioned, as enterprises of all sizes become intensely focused on extreme agility in a constantly changing environment," CEO Barak Eilam said.
"Cloud and digital transformation, which are at the core of our business, are now dramatically accelerating in the enterprise market."
Nice estimated third-quarter revenue in the range of $403 million to $413 million and adjusted EPS of $1.33 to $1.43.
Analysts forecast adjusted EPS of $1.36 on revenue of $405.5 million.
Nice in May withdrew its annual forecast due to uncertainty related to the coronavirus outbreak. (Reporting by Steven Scheer; Editing by Tova Cohen)
