Business
Amdocs Limited Reports Second Quarter Fiscal 2025 Results
Revenue of $1.13 Billion, down 9.4% YoY as Reported and up 4.0% YoY in Pro Forma(1) Constant Currency(2)12-Month Backlog of $4.17 Billion, up 3.5% YoY on a
About this update from Amdocs Limited
[{"type":"text","content":"Revenue of $1.13 Billion, down 9.4% YoY as Reported and up 4.0% YoY in Pro Forma(1) Constant Currency(2)12-Month Backlog of $4.17 Billion, up 3.5% YoY on a Pro Forma(1) BasisExpects Fiscal 2025 Revenue Outlook of (10.9)%-(9.1)% YoY as ReportedReiterates Midpoint of Fiscal 2025 Revenue Growth Outlook in Pro Forma(1) Constant Currency(2)Reiterates Fiscal 2025 Target for Double-Digit Total Shareholder Returns(3)$1 Billion Share Repurchase Program AuthorizedSecond Quarter Fiscal 2025 Highlights(All comparisons are against the prior year)Revenue of $1,128 million, down 9.4% as reported due to the phase out of certain business activities, and up 4.0% in pro forma(1) constant currency(2); revenue was above the midpoint of the $1,105-$1,145 million guidance range, despite a negative impact from foreign currency movements of approximately $2 million compared to our guidance assumptionsRecord managed services revenue of $747 million, equivalent to approximately 66% of total revenue and up 3.7% as compared to last year's second quarterGAAP diluted EPS of $1.45, above the guidance range of $1.30-$1.38, primarily due to a lower than anticipated GAAP effective tax rateNon-GAAP diluted EPS of $1.78 above the guidance range of $1.67-$1.73, primarily due to a lower than anticipated non-GAAP effective tax rateGAAP operating income of $198 million; GAAP operating margin of 17.5%, up 500 basis points as compared to last year's second fiscal quarter, reflecting the phase out of certain non-core business activities, restructuring charges recorded in last year's second quarter, and a continued focus on operational excellence; GAAP operating margin was down 40 basis points sequentiallyNon-GAAP operating income of $240 million; non-GAAP operating margin of 21.3%, up 290 basis points as compared to last year's second fiscal quarter, reflecting the phase out of certain non-core business activities and a continued focus on operational excellence, and up 10 basis points sequentiallyFree cash flow of $156 million, comprised of cash flow from operations of $172 million, less $16 million in net capital expenditures(4), including $25 million of restructuring payments; reiterates full year fiscal 2025 free cash outlook of $710 million to $730 million, excluding restructuring paymentsRepurchased $135 million of ordinary shares during the second fiscal quarterTwel...