U.S. Markets close in 3 hrs 13 mins

  • S&P 500

    4,116.08
    -20.40 (-0.49%)
     

  • Dow 30

    33,873.12
    -52.89 (-0.16%)
     

  • Nasdaq

    11,932.89
    -74.07 (-0.62%)
     

  • Russell 2000

    1,961.52
    -24.01 (-1.21%)
     

  • Crude Oil

    73.76
    +0.37 (+0.50%)
     

  • Gold

    1,878.80
    +2.20 (+0.12%)
     

  • Silver

    22.25
    -0.15 (-0.67%)
     

  • EUR/USD

    1.0719
    -0.0078 (-0.7182%)
     

  • 10-Yr Bond

    3.6380
    +0.1060 (+3.00%)
     

  • Vix

    19.49
    +1.16 (+6.33%)
     

  • GBP/USD

    1.2016
    -0.0040 (-0.3317%)
     

  • USD/JPY

    132.7870
    +1.6370 (+1.2482%)
     

  • BTC-USD

    23,029.88
    +82.53 (+0.36%)
     

  • CMC Crypto 200

    529.78
    +4.65 (+0.89%)
     

  • FTSE 100

    7,836.71
    -65.09 (-0.82%)
     

  • Nikkei 225

    27,693.65
    +184.19 (+0.67%)
     

NICE Shares Pop After Q3 Beat; Clocks 12% Revenue Growth Backed By Cloud Momentum

Anusuya Lahiri
·1 min read

  • NICE Ltd (NASDAQ: NICE) reported third-quarter FY22 non-GAAP revenue growth of 12.2% year on year to $554.7 million, beating the consensus of $548.8 million.

  • Non-GAAP revenues from Cloud grew 26% Y/Y to $330.5 million.

  • The non-GAAP gross margin expanded 120 bps to 73.5%, while the non-GAAP operating margin expanded 40 bps to 28.7%.

  • Non-GAAP EPS of $1.92 beat the consensus of $1.87.

  • NICE generated $94.3 million in operating cash flow and held $1.46 billion in cash and equivalents.

  • CEO Barak Eilam said, "We reported double-digit growth in total revenue driven by another excellent quarter in cloud revenue, which grew 27% at constant currency."

  • Eilam continued, "We are witnessing a dramatic shift in the enterprise software landscape that is creating massive opportunities for some and unbridgeable gaps for others."

  • Outlook: NICE reiterated the FY22 non-GAAP revenue outlook of $2.168 billion - $2.188 billion (consensus: $2.18 billion).

  • NICE boosted non-GAAP EPS from $7.33 - $7.53 to $7.40 - $7.60 (consensus: $7.45).

  • Price Action: NICE shares traded higher by 9.69% at $184.02 in the premarket session on the last check Thursday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Snap Stock Snaps Back: 1 Big Reason to Buy It Right Now

    Investors' initial reaction to Snap's 2022 financial results might have been too pessimistic.

  • Best Stock to Buy: Palantir Stock vs. C3.ai Stock

    Growth stocks are in favor again to start 2023. Palantir (NYSE: PLTR) and C3.ai (NYSE: AI) are certainly interesting choices. This video will answer which growth stock is the best one to buy. *Stock prices used were the afternoon prices of Feb.

  • Two Intel rivals positioned to dominate the chip industry, report says

    Intel is facing a "changing of the guard" in the chip industry as two competitors steal a page for its playbook, according to an analysis published by Bloomberg last week. After Intel Corp. (Nasdaq: INTC) reported earnings reflecting an "astonishingly bad" performance, two rivals, Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) and Samsung have proved themselves as better positioned to weather a current demand downturn, according to Bloomberg. TSMC in particular "has caught and passed Intel quicker than even the most optimistic analysts had predicted," the according to the report.

  • Why EV Maker Canoo's Shares Plunged Monday

    Investors crushed the shares of electric vehicle (EV) start-up Canoo (NASDAQ: GOEV) Monday after details emerged of its latest round of raising capital. As of 10:43 a.m. ET, Canoo shares were still down by 11.7%. Today's drop comes after the company said it would raise more than $50 million by selling new shares to institutional investors at a discounted price.

  • Jim Cramer’s Favorite Energy and Bank Stock Picks

    In this article, we will discuss the favorite energy and bank stock picks of Jim Cramer. If you want to explore similar stocks, you can go to Jim Cramer’s 5 Favorite Energy and Bank Stock Picks. Jim Cramer is an American television personality, former hedge fund manager, and best-selling author. He is the host of […]

  • Tesla Stock Rallies 54% YTD, Top Analyst Says Don't Sell Yet

    Tesla has gained 86% since Jan. 6 bear-market lows, but this Tesla bull just hiked his stock price target.

  • India's Adani crisis spills over into street protests as losses top $110 billion

    The crisis engulfing the Adani Group intensified on Monday as hundreds of members of India's opposition parties took to the streets to press for a probe into allegations by a U.S. short-seller against the conglomerate which triggered its market rout. Shares in billionaire Gautam Adani's companies have been in free-fall since a Jan. 24 critical report by Hindenberg Research, with group cumulative market losses now topping $110 billion, sparking fears of wider financial contagion. Opposition parties, who last week called for a parliamentary panel to investigate the saga and disrupted proceedings, have questioned Indian Prime Minister Narendra Modi's closeness with Adani.

  • Major stock indices fall ahead of Fed Chair Powell's speech

    Yahoo Finance Live’s Rachelle Akuffo joins the Live show to discuss how stocks are trading ahead of Fed Chair Powell’s speech on Tuesday.

  • Here’s Why Lumen Technologies (LUMN) Disappointed the Investors in Q4

    Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” fourth-quarter investor letter. A copy of the same can be downloaded here. The fund delivered 4.74% in the fourth quarter compared to a 6.23% return for the Russell 2000 Index, while the fund declined -19.27% in the year 2022. Multiple companies across sectors delivered strong […]

  • Dell to cut over 6,000 jobs

    Yahoo Finance Live anchors discuss news that Dell will cut over 6,000 jobs amid the ongoing wave of layoffs in the tech industry.

  • Is Gilead Sciences a Good Stock to Buy Now?

    Shares of Gilead Sciences (NASDAQ: GILD) marched higher on Thursday, Feb. 2 in response to a fourth-quarter earnings report that exceeded expectations. A day later, the U.S. Food and Drug Administration (FDA) agreed to dramatically increase the addressable patient population for an important cancer drug called Trodelvy. Gilead Sciences splashed out with a $21 billion acquisition of Immunomedics in 2020 for access to Trodelvy.

  • Laid-off Silicon Valley workers are panic-selling their start-up shares as valuations plunge — here are 3 top tech stocks for 2023 that actually make money

    It's a tech-astrophe out there. But you have options.

  • The Smartest Stocks to Buy With $20 Right Now and Hold Forever

    The defensiveness and stability of these stocks may be underrated but could be more valuable than many investors think.

  • Zacks Value Investor Highlights: AllianceBernstein, Gerdau, Hanesbrands, Sunoco and Janus Henderson Group

    AllianceBernstein, Gerdau, Hanesbrands, Sunoco and Janus Henderson Group have been highlighted in this Value Investor article.

  • Warren Buffett More Than Doubles His Money on This Stock Every 2 Years

    Berkshire Hathaway's longest-held stock is generating a jaw-dropping 54.2% annual yield, relative to cost.

  • Life Storage, Newmont, Danaher stocks move on reports of M&A activity

    Yahoo Finance Live anchors discuss how Life Storage, Newmont, and Danaher stocks are moving following reports of M&A activity.

  • RH stock falls on preliminary full-year results

    Yahoo Finance Live anchors discuss the decline in stock for RH.

  • Ford Gets Rid of Rivian

    The year 2022 was a nightmare for the shareholders of the upstart electric-vehicle maker Rivian. Rivian went public in November 2021, and the stock then rose as high as $180, which was clearly gold for early shareholders like e-commerce giant Amazon and automaker Ford. This cocktail has complicated Rivian's effort to mass-produce its vehicles.

  • 2 Industrial Stocks To Buy Hand Over Fist in February

    The industrial sector is a good hunting ground for stocks that will benefit from rising inflation, specifically with railroads and defense contractors. Here is one railroad and one defense contractor with durable earnings streams to buy in February. Lockheed Martin (NYSE: LMT) has been a mainstay of the defense industry for decades, becoming one of the largest customers for the U.S. government and its allies.

  • Why Taiwan Semiconductor Manufacturing Is Falling Today

    Shares of Taiwan Semiconductor Manufacturing (NYSE: TSM) were falling 4% in morning trading Monday at 10:37 a.m. on no company-specific news, but the stock has been on a tear so far this year, up 22% year to date. In a notable mention last week, Apple (NASDAQ: AAPL) CEO Tim Cook told analysts during the tech giant's fiscal first quarter earnings conference call that the company was "all in" on being Taiwan Semiconductor's largest customer at its new Arizona facilities. Although Taiwan Semiconductor has been able to sidestep many of the supply chain snags that have embroiled other leading chipmakers, its own latest earnings report had the world's leading pure-play foundry saying weakening consumer demand could result in first-quarter revenue dropping as much as 5%, leading to cuts in this year's capital expenditures compared to a year ago.