NICE shares leap 6% on earnings beat and raised guidance

HOBOKEN, N.J. - NICE Ltd. (NASDAQ:NICE) shares jumped 6% in premarket trading Thursday after the customer experience software company reported second-quarter earnings that beat analyst expectations and raised its full-year profit outlook.

The company posted adjusted earnings per share of $2.64, surpassing the consensus estimate of $2.58. Revenue grew 14% YoY to $664.4 million, slightly ahead of analysts' projections of $664.1 million.

NICE's cloud revenue, a key growth driver, surged 26% to $481.7 million in the quarter. The company highlighted record bookings for its CXone customer experience platform.

"We are pleased to conclude the first half of 2024 with strong Q2 results across the board," said CEO Barak Eilam. He noted the growing adoption of NICE's AI solutions fueled the record CXone bookings.

Looking ahead, NICE raised its full-year 2024 earnings per share guidance to a range of $10.60 to $10.80, up from its previous outlook and above the $10.63 analyst consensus. However, the company's revenue forecast of $2.715 billion to $2.735 billion came in slightly below Wall Street's expectations.

For the third quarter, NICE projects revenue between $676 million and $686 million, with adjusted EPS of $2.62 to $2.72.

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Source: Investing.com