November 14, 2019 / 11:16 AM / a month ago

Israel's Nice third quarter profit tops estimates, lifts 2019 profit outlook

TEL AVIV (Reuters) - Israeli software provider Nice (NICE.TA) reported a bigger-than-expected 8% increase in quarterly net profit, fueled by growth in its cloud platforms, and raised its outlook for full-year earnings.

Nice (NICE.O) said on Thursday it earned $1.30 per diluted share excluding one-time items in the third quarter, compared with $1.20 a year earlier. Helped by a platform for financial crime and compliance, revenue grew 8% to $387 million, with cloud revenue up 27% to $152 million.

Nice was forecast to post adjusted EPS of $1.28 on revenue of $385 million, according to I/B/E/S Refinitiv.

For all of 2019, Nice raised its estimate for adjusted EPS to $5.15-$5.35 from a previous forecast of $5.13-$5.33, up from $4.75 in 2018.

It maintained its 2019 revenue forecast of $1.563 billion to $1.583 billion, up from $1.45 billion in 2018.

Analysts are forecasting EPS of $5.26 and revenue of $1.575 billion for 2019.

Reporting by Tova Cohen; Editing by Steven Scheer

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