Business
Amdocs Limited Reports Third Quarter Fiscal 2023 Results
Record Quarterly Revenue of $1.24 Billion, Above Midpoint of Guidance and up 6.5% YoY as Reported and 6.9% YoY in Constant Currency(2)Record 12-Month Backlog
About this update from Amdocs Limited
[{"type":"text","content":"Record Quarterly Revenue of $1.24 Billion, Above Midpoint of Guidance and up 6.5% YoY as Reported and 6.9% YoY in Constant Currency(2)Record 12-Month Backlog of $4.14 Billion, up ~5% YoYImproved Profitability Reflecting Continued Focus on Operational ExcellenceAdditional $1.1 Billion Share Repurchase Program AuthorizedLaunched Amdocs amAIz, a Cutting-Edge Enterprise-Grade Generative AI FrameworkThird Quarter Fiscal 2023 Highlights(All comparisons are against the prior year)Record revenue of $1,236 million, up 6.5% as reported and up 6.9% in constant currency(2); revenue was above the midpoint of $1,215-$1,255 million guidance rangeRecord revenue of $831 million in North America, up 5.4%, and record revenue of $187 million in Europe, up 28.2%Record managed services revenue of $720 million, equivalent to approximately 58% of total revenueGAAP diluted EPS of $1.32, above the guidance range of $1.16-$1.26, primarily due to a lower than anticipated GAAP effective tax rateNon-GAAP diluted EPS of $1.57, above the guidance range of $1.45-$1.51, primarily due to a lower than anticipated non-GAAP effective tax rateGAAP operating income of $183 million; GAAP operating margin of 14.8%, up 20 basis points as compared to last year's third fiscal quarter and down 10 basis points sequentiallyNon-GAAP operating income of $220 million; non-GAAP operating margin of 17.8%, up 20 basis points as compared to last year's third fiscal quarter and unchanged sequentially, reflecting a continued focus on operational excellenceFree cash flow of $144 million, comprised of cash flow from operations of $173 million, less $29 million in net capital expenditures and other(1)Repurchased $129 million of ordinary shares during the third fiscal quarterRecord twelve-month backlog of $4.14 billion, up approximately 5% as compared to last year's third fiscal quarterCompleted the acquisition of TEOCO's service assurance business on June 30, 2023 for a net consideration of approximately $90 millionJERSEY CITY, NJ / ACCESSWIRE / August 2, 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 June 30, 2023.\"Q3 was another solid quarter for Amdocs as we executed our strategy to bring cutting-edge innovation across our core growth pillars of digital ...