Nice Ltd shares tumbled 8.94% intraday on Wednesday, reversing earlier premarket gains, after the company issued third-quarter revenue guidance that fell short of Wall Street expectations.
The company reported second-quarter adjusted earnings of $2.70 per share on revenue of $782.3 million, both surpassing analyst estimates of $2.64 and $766.3 million, respectively. However, adjusted earnings declined from $3.01 per share a year earlier, and the company's Q3 revenue outlook of $780 million to $790 million came in below the consensus estimate of $795.1 million, raising concerns about the company's near-term growth trajectory.
For the full year, Nice raised its adjusted EPS guidance to a range of $11.06 to $11.26, up from its prior outlook, while maintaining its revenue forecast of $3.17 billion to $3.19 billion. The mixed guidance, particularly the softer-than-expected Q3 revenue view, appeared to overshadow the quarterly beat and prompted the sharp sell-off.
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