NICE shows 30% growth in cloud revenue in the second quarter

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NICE today released results for the second quarter of 2020. Revenue in the second quarter increased 3.4% to $ 393.2 million, compared to $ 380.4 million in the second quarter of 2019. Net income increased by 11% to $ 44.6 million, compared to $ 42.1 million In the second quarter of 2019.

Gross profit in the second quarter of 2020 increased to $ 257.4 million compared to $ 249.6 million. The gross profit margin for the second quarter of 2020 was 65.5% compared to 65.6% in the second quarter of 2019.

Operating profit and operating profit in the second quarter of 2020 increased to $ 56.1 million and 14.3%, respectively, compared to $ 53.5 million and 14.1%, respectively, in the second quarter of 2019.

The company expects third-quarter revenue (Non-GAAP) expected to total $ 403 million to $ 413 million. Non-GAAP earnings per share fully diluted in the third quarter are expected to be in the range of $ 1.33 to $ 1.43.

Barak Eilam, CEO of NICE: “We are pleased to report another quarter of strong and accelerated growth of 30% in cloud revenue, along with a continued significant increase in profits. “The strong cloud performance illustrates how well positioned we are to meet the needs of organizations of all sizes at a time when they are very focused on flexibility and adapting the organization to the ever-changing environment.”

Mr. Eilam added, “Our recent business performance emphasizes: 1) that now, more than ever, our solutions are critical to the day-to-day functioning of organizations, 2) that our cloud platforms are essential to enable flexible work from home, 3) that the cloud and digital transformation are at the core of our business. We are now accelerating significantly among the organizations. “

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