$NICE Ltd (NICE.US)$ shares are trading 10% lower on Thursday afternoon after reporting its Q3 earnings report pre-market.
The company reported Q3 adjusted earnings per share of $2.88 beating the street view of $2.68. Quarterly revenues of $689.963 million (up 15% year-over-year), outpacing the analyst consensus estimate of $683.481 million.
Cloud revenue grew 24%, totaling $500.1 million, while adjusted operating income rose 20% to $220.8 million.
The company also improved its adjusted operating margin to 32%, compared to 30.6% in the same period last year.
Nice CEO Barak Eilam credits the results to "cutting-edge AI innovation," citing an acceleration in deal signings and bookings for the company's CXone AI offerings.
Nice offerings include Copilot, Autopilot and Autosummary.
Looking ahead, Nice reiterated its 2024 guidance for adjusted revenues of $2.715 billion to $2.735 billion, compared with analyst expectations of $2.73 billion.
The company raised its adjusted EPS forecast to a range of $10.95 to $11.15, up from the previous $10.60 to $10.80. The updated guidance compared with the consensus estimate of $10.73 EPS.
At 1: 10 p.m. ET, Nice shares are down 9.58%.
