February 13, 2020 / 12:07 PM / in 13 days

Israel's Nice Q4 beats estimates, sees 2020 in line with forecasts

TEL AVIV, Feb 13 (Reuters) - Israeli software provider Nice reported a bigger-than-expected 7% increase in quarterly net profit, fuelled by growth in its cloud platforms, and forecast 2020 results in line with estimates.

Nice said on Thursday it earned a record $1.58 per diluted share excluding one-time items in the fourth quarter, compared with $1.48 a year earlier. Revenue grew 4% to a record $431.1 million, with cloud revenue up 25% to $168 million.

Nice was forecast to post adjusted EPS of $1.53 on revenue of $429 million, according to I/B/E/S Refinitiv.

For 2020, Nice estimates adjusted EPS to $5.65-$5.85 and revenue of $1.69 billion to $1.71 billion.

Analysts are forecasting EPS of $5.74 and revenue of $1.706 billion for 2019.

For the first quarter it forecast adjusted EPS of $1.27-$1.37 and revenue of $406 million to $416 million.

“Over the next several years, we will continue to witness rapid changes in our markets, including cloud becoming the default choice for enterprises of all sizes globally,” CEO Barak Eilam said.

The company’s board authorised a new share repurchase programme of up to $200 million. (Reporting by Tova Cohen; Editing by Steven Scheer)

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