TEL AVIV (Reuters) - Israeli software provider Nice reported a higher-than-expected increase in quarterly net profit, driven by growth in cloud revenue, and raised its guidance for the rest of the year.
Nice said on Thursday it earned $1.18 per diluted share excluding one-time items in the first quarter, compared with 97 cents a year earlier. Revenue grew 12% to $378 million, with cloud revenue up 30% to $137 million.
Nice was forecast to post adjusted EPS of $1.11 on revenue of $375 million, according to I/B/E/S Refinitiv.
For the second quarter Nice forecast adjusted EPS of $1.16-$1.26 on revenue of $373-$383 million.
For all of 2019, Nice raised its estimate for adjusted EPS to $5.11-$5.31 from a previous forecast of $5.08-$5.28, and up from $4.75 in 2018.
Its revenue forecast for 2019 was unchanged at of $1.558-$1.582 billion, up from $1.45 billion a year earlier.
Analysts were forecasting EPS of $1.19 on revenue of $377 million for the second quarter and EPS of $5.20 and revenue of $1.57 billion for 2019.
Reporting by Ari Rabinovitch; Editing by Tova Cohen