August 8, 2019 / 9:55 AM / 4 months ago

Israel's Nice Q2 profit tops forecast, raises 2019 estimates

JERUSALEM, Aug 8 (Reuters) - Israeli software provider Nice reported a bigger-than-expected 14% increase in quarterly net profit, fuelled by growth in its cloud platforms, and raised its guidance for the rest of the year.

Nice said on Thursday it earned $1.25 per diluted share excluding one-time items in the second quarter, compared with $1.10 a year earlier. Helped by a platform for financial crime and compliance, revenue grew 11% to $381 million, with cloud revenue up 30% to $143 million.

Nice was forecast to post adjusted EPS of $1.22 on revenue of $379 million, according to I/B/E/S Refinitiv.

For the third quarter Nice forecast diluted adjusted EPS of $1.23-$1.33 on revenue of $380-$390 million.

For all of 2019, Nice raised its estimate for adjusted EPS to $5.13-$5.33 from a previous forecast of $5.11-$5.31, and up from $4.75 in 2018.

It increased its 2019 revenue forecast to $1.563 billion to $1.583 billion from $1.558-$1.582 billion, up from $1.45 billion in 2018.

Analysts were forecasting EPS of $1.29 on revenue of $386 million for the third quarter and EPS of $5.24 and revenue of $1.576 billion for 2019. (Reporting by Steven Scheer; Editing by Tova Cohen)

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