Nice Ltd NICE shares are trading lower on Thursday.

The company reported third-quarter adjusted earnings per share of $2.88 beating the street view of $2.68. Quarterly revenues of $689.963 million (up 15% year-over-year), outpacing the analyst consensus estimate of $683.481 million.

Cloud revenue grew 24%, totaling $500.1 million, while adjusted operating income rose 20% to $220.8 million.

The company also improved its adjusted operating margin to 32%, compared to 30.6% in the same period last year.

Nice CEO Barak Eilam credits the results to “cutting-edge AI innovation,” citing an acceleration in deal signings and bookings for our CXone AI offerings.

Nice offerings include Copilot, Autopilot and Autosummary.

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Outlook: Nice reiterated its 2024 guidance for adjusted revenues of $2.715 billion to $2.735 billion, compared with analyst expectations of $2.73 billion.

The company raised its adjusted EPS forecast to a range of $10.95 to $11.15, up from the previous $10.60 to $10.80. The updated guidance compared with the consensus estimate of $10.73 EPS.

Price Action: Nice shares are trading lower by 4.06% to $191.20 premarket at last check Thursday.

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