NICE Ltd ADR (NICE)

NICE Ltd ADR (NICE) stock plummeted by 12.93% although the company commenced the year with robust first-quarter results, surpassing analyst expectations for adjusted earnings per share (EPS) and revenue.

• Q1 Performance Highlights: For the quarter ending March 31, 2024, NICE posted an adjusted EPS of $2.58, surpassing the analyst consensus by $0.13. Revenue also exhibited healthy growth, reaching $659.3 million, exceeding the expected $655.4 million. Notably, total revenue surged by 15% compared to the same quarter last year, with cloud revenue experiencing a substantial 27% rise. This growth was attributed to robust demand for NICE's digital and AI offerings.
• Financial Metrics: Alongside revenue growth, NICE reported a remarkable 30% year-over-year increase in operating cash flow, reaching a record high of $254 million. These financial metrics underscored the company's strong performance and positive momentum.
• Guidance for Q2 2024: Looking ahead, NICE provided guidance for the second quarter of 2024. The company expects adjusted EPS to range between $2.53 and $2.63, with revenue projected to be in the range of $657 million to $667 million. However, the midpoint of the revenue guidance fell short of the consensus estimate.
• Full-Year Outlook: For the full year 2024, NICE anticipates adjusted EPS to range from $10.53 to $10.73, surpassing the consensus estimate. Similarly, the revenue forecast for the year is set between $2.715 billion and $2.735 billion, closely aligning with analyst expectations.