Business
Amdocs Limited Reports Second Quarter Fiscal 2023 Results
Record Quarterly Revenue of $1.22 Billion, Above Midpoint of Guidance and up 6.8% YoY as Reported and 8.2% YoY in Constant Currency(2)Reiterates Fiscal 2023
About this update from Amdocs Limited
[{"type":"text","content":"Record Quarterly Revenue of $1.22 Billion, Above Midpoint of Guidance and up 6.8% YoY as Reported and 8.2% YoY in Constant Currency(2)Reiterates Fiscal 2023 Revenue Growth Outlook while Tightening Expected Range to 6%-8% as Reported and 7%-9% Constant Currency(2)Reiterates Fiscal 2023 Earnings per Share Growth TargetsReiterates Fiscal 2023 Free Cash Flow(1) Outlook of $700 MillionSecond Quarter Fiscal 2023 Highlights(All comparisons are against the prior year)Record revenue of $1,223 million, up 6.8% as reported and up 8.2% in constant currency(2); revenue was above the midpoint of $1,200-$1,240 million guidance rangeRecord revenue of $829 million in North America, up 7.4%, and record revenue of $172 million in Europe, up 16.6%Record managed services revenue of $719 million, equivalent to approximately 59% of total revenueGAAP diluted EPS of $1.23, above the midpoint of $1.18-$1.26 guidance rangeNon-GAAP diluted EPS of $1.47, at the midpoint guidance range of $1.44-$1.50GAAP operating income of $182 million; GAAP operating margin of 14.9%, up 220 basis points sequentially, primarily due to restructuring charges, and up 60 basis points as compared to last year's second fiscal quarterNon-GAAP operating income of $218 million; non-GAAP operating margin of 17.8%, up 10 basis points sequentially and up 20 basis points as compared to last year's second fiscal quarterFree cash flow of $259 million, comprised of cash flow from operations of $294 million, less $35 million in net capital expenditures and other(1); reiterates full year fiscal 2023 free cash outlook of $700 millionRepurchased $106 million of ordinary shares during the second fiscal quarterRecord twelve-month backlog of $4.11 billion, up 5.7% as compared to last year's second fiscal quarterThe Board of Directors of Amdocs approved a definitive agreement on May 10, 2023, to acquire the service assurance business of TEOCO for a consideration of approximately $90 million in cash, subject to closing conditionsJERSEY CITY, NJ / ACCESSWIRE / May 10, 2023 / Amdocs Limited (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today reported operating results for the three months ended March 31, 2023.\"I am pleased with our second fiscal quarter performance as we progressed our strategy to deliver the next-generation cloud-based products and...