Nice Ltd (NASDAQ:NICE) stock rose 0.33% (As on August 16, 11:19:36 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the second quarter of FY 24. NICE reported 26% Year-Over-Year Cloud Revenue Growth Along With Continued Double-Digit Growth in Profitability for Q2 2024. Second quarter 2024 gross profit was $469.4 million compared to $416.3 million for the second quarter of 2023 Second quarter 2024 gross margin was 70.7% compared to 71.6% for the second quarter of 2023. Second quarter 2024 operating income increased 19% to $201.7 million compared to $169.6 million for the second quarter of 2023. Second quarter 2024 operating margin was 30.4% compared to 29.2% for the second quarter of 2023. Second quarter 2024 net income increased 23% to $174.2 million compared to $141.5 million for the second quarter of 2023. Second quarter 2024 net income margin was 26.2% compared to 24.4% for the second quarter of 2023. Operating cash flow generated was of $170 million increased 160% year over year. Share repurchases accelerated to $146 million for Q2 2024

NICE in the second quarter of FY 24 has reported the adjusted earnings per share of $2.64, beating the analysts’ estimates for the adjusted earnings per share of $2.54. The company had reported the adjusted revenue growth of 14 percent to $664.4 million in the second quarter of FY 24, beating the analysts’ estimates for revenue of $662.9 million.

Looking forward, Nice raised its full-year 2024 non-GAAP EPS guidance to a range of $10.60 to $10.80, representing 22% year-over-year growth. It also expects total yearly revenue to be between $2.715 billion and $2.735 billion.

For the third quarter of 2024, non-GAAP total revenues are expected to be in a range of $676 million to $686 million, representing 13% growth year over year at the midpoint. Third-quarter 2024 non-GAAP fully diluted earnings per share are expected to be in a range of $2.62 to $2.72, representing 18% growth year over year at the midpoint.

Meanwhile, the management also announced that retiring CEO Barak Eilam will be replaced on Jan. 1, after more than a decade at the helm, by Scott Russell, currently chief revenue officer at SAP. Additionally, the company had recently announced that it is expanding its strategic collaboration with AT&T to bring the advantages of the companies’ integrated solutions to emergency communications centers. As part of this, NICE is creating a unified incident capture and data analytics solution for AT&T NextGen 9-1-1 (NG9-1-1) technologies.