NICE Reports Accelerated Growth with Double-Digit Increases in Total Revenue and Earnings Per Share for the First Quarter 2019
NICE (NASDAQ: NICE) today announced results for the first quarter ended March 31, 2019.
First Quarter 2019 Financial Highlights
|Revenue of $377 million, growth of 12% year-over-year||Revenue of $378 million, growth of 12% year-over-year|
|Cloud revenue of $136 million, growth of 31% year-over-year||Cloud revenue of $137 million, growth of 30% year-over-year|
|Gross margin of 65.2% compared to 64.7% last year||Gross margin of 70.5% compared to 70.4% last year|
|Operating income of $52 million compared to $34 million last year, an increase of 52%||Operating income of $97 million compared to $79 million last year, an increase of 23%|
|Operating margin of 13.8% compared to 10.2% last year||Operating margin of 25.7% compared to 23.4% last year|
|Diluted EPS of $0.58 versus $0.37 last year, 57% growth year-over-year||Diluted EPS of $1.18 versus $0.97 last year, 22% growth year-over-year|
|Record cash flow from operations of $182 million, 33% growth year-over-year|
“The first quarter marked a very strong start to the year as we reported accelerated growth with double-digit increases in all key metrics, including total revenues, cloud revenues, operating income and earnings per share. Moreover, we continued to benefit from the leverage in our operating model as reflected in the significant expansion in our operating margin,” said Barak Eilam, CEO, NICE.
Mr. Eilam continued, “The strong start to the year was driven by the more than 30% increase in cloud revenue with our CXone platform as the underpinning of that growth. We are now taking the next step in the evolution of CXone by ushering in a new era in CX with the introduction of smart digital conversations. This builds on our CXone platform strategy with an additional market leading innovation that enables our customers to accelerate their transition in managing digital experiences. This innovation is augmented by the acquisition of Brand Embassy, announced earlier today.”