NICE's Q4 Results Surpasses Expectations, Cloud Revenue Soars; Sets Bold 2024 Targets
Portfolio Pulse from Akanksha Bakshi
NICE Ltd (NASDAQ:NICE) reported Q4 fiscal 2023 revenue of $623.19 million, a 9.6% increase Y/Y, surpassing consensus estimates. Cloud revenue grew 19.5% Y/Y to $428.99 million. Adjusted operating income rose 15% Y/Y to $186.9 million, and adjusted EPS improved to $2.36, beating consensus. The company also highlighted strong cash flow and share repurchases, with a positive outlook for Q1 and 2024, emphasizing AI's role in growth. Shares rose 10.23% to $248.99.
February 22, 2024 | 3:50 pm
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NICE Ltd reported a significant year-over-year revenue growth in Q4, with a notable increase in cloud revenue and adjusted EPS, surpassing consensus estimates. The company's positive outlook for Q1 and 2024, emphasizing AI's role, has led to a 10.23% increase in share price.
NICE's Q4 earnings report exceeded expectations with significant growth in revenue and EPS, particularly in cloud services. The optimistic outlook for Q1 and 2024, highlighting the impact of AI on growth, has positively influenced investor sentiment, leading to a substantial increase in the stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100