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    Amdocs Limited Reports First Quarter Fiscal 2024 Results

    2/6/24 4:01:00 PM ET
    $DOX
    EDP Services
    Technology
    Get the next $DOX alert in real time by email

    Record Quarterly Revenue of $1.25 Billion, up Roughly 5% YoY as Reported and in Constant Currency(1)

    Record 12-Month Backlog of $4.21 Billion, up Roughly 3% YoY and $60 Million QoQ

    Reiterates Fiscal 2024 Revenue Growth of Roughly 1%-5% YoY(2) as Reported and in Constant Currency(1)

    Reiterates Double-digit Diluted Earnings Per Share Growth in Fiscal 2024, Supported by Accelerated Profitability

    First Quarter Fiscal 2024 Highlights

    (All comparisons are against the prior year)

    • Record revenue of $1,245 million, up 5.0% as reported and up 4.8% in constant currency(1); revenue was at the midpoint of $1,225-$1,265 million guidance range and includes an unfavorable impact from foreign currency movements of approximately $5 million relative to the fourth quarter of fiscal 2023
    • Revenue growth across all regions, including record revenue of $838 million in North America, up 3.1%
    • Record managed services revenue of $722 million, equivalent to approximately 58% of total revenue
    • GAAP diluted EPS of $1.26, at the high end of the guidance range of $1.18-$1.26
    • Non-GAAP diluted EPS of $1.56, at the midpoint of the guidance range of $1.53-$1.59
    • GAAP operating income of $184 million; GAAP operating margin of 14.8%, up 210 basis points as compared to last year's first fiscal quarter and up 360 basis points sequentially, primarily reflecting restructuring charges of $25 million recorded in last year's first fiscal quarter and $46 million sequentially
    • Non-GAAP operating income of $225 million; non-GAAP operating margin of 18.1%, up 40 basis points as compared to last year's first fiscal quarter and up 30 basis points sequentially, reflecting a continued focus on operational excellence
    • Free cash flow of $139 million, comprised of cash flow from operations of $182 million, less $44 million in net capital expenditures and other(3), including $16 million of restructuring payments; reiterates full year fiscal 2024 free cash outlook of $750 million, excluding restructuring payments
    • Repurchased $159 million of ordinary shares during the first fiscal quarter
    • Record twelve-month backlog of $4.21 billion, up approximately $60 million sequentially and up approximately 3% as compared to last year's first fiscal quarter
    1. Revenue on a constant currency basis assumes exchange rates in the current period were unchanged from the prior period
    2. Expected revenue growth for the full year fiscal 2024 of 1.1%-5.1% as reported and 1.2%-5.2% on a constant currency basis
    3. Please refer to the Selected Financial Metrics tables below (figures may not sum because of rounding)

    JERSEY CITY, NJ / ACCESSWIRE / February 6, 2024 / 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 December 31, 2023.

    "Fiscal 2024 is off to a solid start as we leveraged our innovative product and service offering, and unique business model, to meet the strategic investment priorities of our customers. First quarter revenue was a record $1.25 billion, consistent with the midpoint of guidance and driven by year-over-year growth across all three of our operating regions. Twelve-month backlog of $4.21 billion was a record-high, accelerating by $60 million sequentially in Q1. We secured additional customer awards in support of multi-year modernization programs in North America, and strengthened our international presence with several key deals, including new logo wins such as Finetwork in Spain which selected Amdocs' Digital Brands Suite as a Service. In cloud, strong sales momentum continued with numerous wins, including a cloud transformation and managed services award with NTT Infranet in Japan. Additionally, we accelerated our leading position as a Generative AI industry enabler, leveraging investments in Amdocs' amAIz Gen AI framework and our strategic partnerships with Microsoft and NVIDIA to advance use cases with a growing list of flagship customers," said Shuky Sheffer, president and chief executive officer of Amdocs Management Limited.

    "Improved operating profitability was a notable highlight in Q1, driven by the ongoing adoption of automation, artificial intelligence, and other sophisticated tools. We also reinforced our reputation for execution, supporting a high number of project deployments which included major successful implementations at several large-scale customers worldwide that create the foundation for future business expansion. From an operational perspective, I am pleased to report a record quarter in managed services, primarily driven by cloud transformations and the ramp-up of activities under long-term agreements with new and existing customers," said Tamar Rapaport-Dagim, chief financial officer & chief operating officer of Amdocs Management Limited.

    Sheffer concluded, "Looking ahead, we continue to see a rich pipeline of opportunities to help our customers modernize for cloud-based 5G, fixed wireless access and fiber networks, improved digital consumer and B2B experiences. Additionally, we are making significant progress in Generative AI, where we believe Amdocs is already established as the industry's most dominant technology enabler. Overall, and while macro uncertainty and industry pressure remain mostly unchanged, we are reiterating our guidance for constant currency(1) revenue growth of between 1.2% to 5.2% in fiscal 2024, which includes another year of expected strong double-digit growth in cloud. Moreover, our initiatives to accelerate profitability are on-track, positioning us to deliver a fourth straight year of double-digit earnings per share growth in fiscal 2024, based on the midpoint of our guidance range."

    Revenue

    (All comparisons are against the prior year period)


    In millions
    Three months ended
    December 31, 2023
    Actual Guidance
    Revenue
    $1,245 $1,225 - $1,265
    Revenue Growth, as reported
    5.0%
    Revenue Growth, constant currency (1)
    4.8%
    • Revenue for the first fiscal quarter of 2024 was at the midpoint of Amdocs' guidance, and includes unfavorable impact from foreign currency movement of approximately $1 million compared to our guidance assumptions
    • Revenue for the first fiscal quarter includes an unfavorable impact from foreign currency movements of approximately $5 million relative to the fourth quarter of fiscal 2023

    Net Income and Earnings Per Share

    In thousands, expect per share data
    Three months ended
    December 31,

    2023 2022
    GAAP Measures
    Net Income
    $148,722 $129,872
    Net Income attributable to Amdocs Limited
    $147,965 $129,667
    Diluted earnings per share
    $1.26 $1.07
    Non-GAAP Measures
    Non-GAAP Net Income
    $183,833 $176,542
    Non-GAAP Net Income attributable to Amdocs Limited
    $183,076 $176,337
    Non-GAAP Diluted earnings per share
    $1.56 $1.45
    • Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition related liabilities measured at fair value, equity-based compensation expenses, and other, net of related tax effects, in all the periods presented, and in the three months ended December 31, 2022, also excludes restructuring charges net of related tax effects

    For further details of the reconciliation of selected financial metrics from GAAP to Non-GAAP, please refer to the tables below.

    Capital Allocation

    • M&A Activity: On November 2, 2023, Amdocs completed the previously announced acquisition of Astadia for a net consideration of approximately $75 million in cash, with additional consideration to be paid later based on the achievement of certain performance metrics
    • Quarterly Cash Dividend Program: On February 6, 2024, the Board approved the Company's next quarterly cash dividend payment at the new increased rate of $0.479 per share, as approved at the February 2024 annual general meeting of shareholders and set March 29, 2024 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on April 26, 2024
    • Share Repurchase Activity: Repurchased $159 million of ordinary shares during the first quarter of fiscal 2024

    Twelve-month Backlog

    Twelve-month backlog was a record $4.21 billion at the end of the first quarter of fiscal 2024, up approximately 3% as compared to last year's first fiscal quarter. Twelve-month backlog includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities.

    Second Quarter Fiscal 2024 Outlook


    In millions, expect per share data

    Q2 - 2024
    Revenue
    $1,225-$1,265
    GAAP Diluted earnings per share
    $1.21-$1.29
    Non-GAAP Diluted earnings per share
    $1.53-$1.59
    • Second quarter revenue guidance assumes immaterial sequential impact from foreign currency fluctuations as compared to the first quarter of fiscal 2024
    • Second quarter non-GAAP diluted EPS guidance excludes equity-based compensation expense of approximately $0.17-$0.19 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.12 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects

    Full Year Fiscal 2024 Outlook

    FY 2024 - Year-over -Year growth

    Current guidance Previous guidance
    Revenue Growth, as reported
    1.1%-5.1% 1.0%-5.0%
    Revenue Growth, constant currency (1)
    1.2%-5.2% 1.2%-5.2%
    GAAP Diluted earnings per share
    13.0%-19.5% 11.0%-18.0%
    Non-GAAP Diluted earnings per share
    8.0%-12.0% 8.0%-12.0%

    FY 2024, in millions
    Current guidance Previous guidance
    Free Cash Flow (3)
    $750 $750
    • Full year fiscal 2024 revenue guidance incorporates an expected unfavorable impact from foreign currency fluctuations of approximately 0.1% year-over-year, as compared with an unfavorable impact of approximately 0.2% year-over-year previously
    • Non-GAAP diluted earnings per share growth excludes equity-based compensation expense of approximately $0.72-$0.78 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.48 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects
    • Non-GAAP operating margin is anticipated to be within a range of 18.1% to 18.7% for the full year fiscal 2024
    • Non-GAAP operating margin is comprised of GAAP operating margin, excluding amortization on purchased intangible assets and other, equity-based compensation expense, and changes in certain acquisitions related liabilities measured at fair value
    • Non-GAAP effective tax rate is anticipated to be within a range of 13% to 17% for the full year fiscal 2024
    • Free cash flow(3) is comprised of cash flow from operations, less net capital expenditures and other, and excludes payments related to restructuring charges

    The forward looking statements regarding our second fiscal quarter 2024 and full year fiscal 2024 guidance take into consideration the Company's current expectations regarding macro and industry specific risks and various uncertainties and certain assumptions that we will discuss on our earnings conference call. However, we note that market dynamics continue to shift rapidly and we cannot predict all possible outcomes, including those resulting from certain geopolitical events (including the recent attacks in Israel and evolving conflict), the current inflationary environment, global or regional events, such as the COVID-19 pandemic and the prevailing level of macro-economic, business and operational uncertainty, which have created, and continue to create, a significant amount of uncertainty, or from current and potential customer consolidation or their other strategic corporate activities.

    Conference Call and Earnings Webcast Presentation Details

    Amdocs will host a conference call and earnings webcast presentation on February 6, 2024 at 5:00 p.m. Eastern Time to discuss the Company's first quarter of fiscal 2024 results.

    To participate in the call, please register here to receive the dial-in numbers and unique access PIN. The conference call and webcast will also be carried live on the Internet and may be accessed via the Amdocs website at https://investors.amdocs.com. Presentation slides will be available shortly before the webcast.

    Non-GAAP Financial Measures
    This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, revenue on a constant currency(1) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth. These other non-GAAP measures exclude the following items:

    • amortization of purchased intangible assets and other acquisition-related costs;
    • changes in certain acquisition-related liabilities measured at fair value;
    • restructuring and unusual charges or benefits;
    • equity-based compensation expense;
    • other; and
    • tax effects related to the above.

    Free cash flow equals cash generated by operating activities less net capital expenditures and other. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

    Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow(3), revenue on a constant currency(1) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

    For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition-related liabilities measured at fair value, restructuring and unusual charges or benefits, equity-based compensation expense, other and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these items in reviewing its results and those of its competitors, because the amounts of the items between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the items.

    Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of revenue, research and development, selling, general and administrative, operating income, interest and other expenses, net, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments. Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

    Supporting Resources

    • Keep up with Amdocs news by visiting the Company's website
    • Subscribe to Amdocs' RSS Feed and follow us on Twitter, Facebook, LinkedIn and YouTube

    About Amdocs

    Amdocs helps those who build the future to make it amazing. With our market-leading portfolio of software products and services, we unlock our customers' innovative potential, empowering them to provide next-generation communication and media experiences for both the individual end user and large enterprise customers. Our approximately 29,000 employees around the globe are here to accelerate service providers' migration to the cloud, enable them to differentiate in the 5G era, and digitalize and automate their operations. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $4.89 billion in fiscal 2023.

    For more information, visit Amdocs at www.amdocs.com.

    This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other global or regional events such as the recent attacks in Israel and evolving conflict and the COVID-19 pandemic, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2023 filed on December 13, 2023.

    Contact:
    Matthew Smith
    Head of Investor Relations
    Amdocs
    314-212-8328
    E-mail: [email protected]

    AMDOCS LIMITED

    Consolidated Statements of Income
    (In thousands, except per share data)

    Three months ended
    December 31,
    2023 2022
    Revenue
    $1,245,199 $1,185,720
    Operating expenses:
    Cost of revenue
    812,744 756,849
    Research and development
    89,207 95,726
    Selling, general and administrative
    142,504 143,222
    Amortization of purchased intangible assets and other
    16,410 15,313
    Restructuring charges
    - 24,536

    1,060,865 1,035,646
    Operating income
    184,334 150,074
    Interest and other expense, net
    (9,778) (4,963)
    Income before income taxes
    174,556 145,111
    Income tax expense
    25,834 15,239
    Net income
    $148,722 $129,872
    Net income attributable to noncontrolling interests
    757 205
    Net income attributable to Amdocs Limited
    $147,965 $129,667
    Basic earnings per share attributable to Amdocs Limited
    $1.27 $1.07
    Diluted earnings per share attributable to Amdocs Limited
    $1.26 $1.07
    Cash dividends declared per ordinary share
    $0.435 $0.395
    Basic weighted average number of shares outstanding
    116,841 120,652
    Diluted weighted average number of shares outstanding
    117,536 121,500

    AMDOCS LIMITED
    Selected Financial Metrics
    (In thousands, except per share data)


    Three months ended
    December 31,

    2023 2022



    Revenue
    $1,245,199 $1,185,720
    Non-GAAP operating income
    225,241 209,538
    Non-GAAP net income
    183,833 176,542
    Non-GAAP net income attributable to Amdocs Limited
    183,076 176,337
    Non-GAAP diluted earnings per share
    $1.56 $1.45
    Diluted weighted average number of shares outstanding
    117,536 121,500

    Free Cash Flows
    (In thousands)

    Three months ended
    December 31,
    2023 2022
    Net Cash Provided by Operating Activities
    $182,387 $83,226
    Purchases of property and equipment, net (a)
    (43,743) (33,703)
    Free Cash Flow
    $138,644 $49,523

    (a) The amounts under "Purchase of property and equipment, net", include immaterial proceeds from sale of property and equipment for the three months ended December 31, 2023, and no proceeds for the three months ended December 31, 2022.

    AMDOCS LIMITED
    Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
    (In thousands)

    Three Months Ended December 31, 2023

    GAAP Amortization of purchased intangible assets and other Equity based compensation expense Changes in certain acquisitions related liabilities measured at fair value Other Tax
    effect
    Non-GAAP
    Operating expenses:
    Cost of revenue
    $812,744 $- $(13,527) $1,583 $- $- $800,800
    Research and development
    89,207 (1,867) 87,340
    Selling, general and administrative
    142,504 (10,686) 131,818
    Amortization of purchased intangible assets and other
    16,410 (16,410) -
    Total operating expenses
    1,060,865 (16,410) (26,080) 1,583 - - 1,019,958
    Operating income
    184,334 16,410 26,080 (1,583) - - 225,241
    Interest and other expense, net
    (9,778) 1,534 (8,244)
    Income tax expense
    25,834 7,330 33,164
    Net income
    148,722 16,410 26,080 (1,583) 1,534 (7,330) 183,833
    Net income attributable to noncontrolling interests
    757 757
    Net income attributable to Amdocs Limited
    $147,965 $16,410 $26,080 $(1,583) $1,534 $(7,330) $183,076
    Three Months Ended December 31, 2022

    GAAP Amortization of purchased intangible assets and other Equity based compensation expense Changes in certain acquisitions related liabilities measured at fair value Restructuring charges Tax
    effect
    Non-GAAP
    Operating expenses:
    Cost of revenue
    $756,849 $- $(8,655) $(125) $- $- $748,069
    Research and development
    95,726 (1,484) 94,242
    Selling, general and administrative
    143,222 (9,351) 133,871
    Amortization of purchased intangible assets and other
    15,313 (15,313) -
    Restructuring charges
    24,536 (24,536) -
    Total operating expenses
    1,035,646 (15,313) (19,490) (125) (24,536) - 976,182
    Operating income
    150,074 15,313 19,490 125 24,536 - 209,538
    Interest and other expense, net
    (4,963) (4,963)
    Income tax expense
    15,239 12,794 28,033
    Net income
    129,872 15,313 19,490 125 24,536 (12,794) 176,542
    Net income attributable to noncontrolling interests
    205 205
    Net income attributable to Amdocs Limited
    $129,667 $15,313 $19,490 $125 $24,536 $(12,794) $176,337

    AMDOCS LIMITED
    Condensed Consolidated Balance Sheets
    (In thousands)

    As of
    December 31,
    2023
    September 30,
    2023
    ASSETS
    Current assets:
    Cash and cash equivalents
    $382,885 $520,080
    Short-term interest-bearing investments
    218,043 222,451
    Accounts receivable, net, including unbilled of $281,873 and $211,498, respectively
    1,029,294 944,477
    Prepaid expenses and other current assets
    215,914 224,622
    Total current assets
    1,846,136 1,911,630

    Property and equipment, net
    776,629 790,923
    Lease assets
    163,181 160,938
    Goodwill and other intangible assets, net
    3,040,592 2,930,580
    Other noncurrent assets
    645,128 631,582
    Total assets
    $6,471,666 $6,425,653
    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable, accruals and other
    $1,244,546 $1,142,781
    Lease liabilities
    41,361 39,960
    Deferred revenue
    149,826 170,634
    Total current liabilities
    1,435,733 1,353,375
    Lease liabilities
    117,155 121,654
    Long-term debt, net of unamortized debt issuance costs
    645,844 645,696
    Other noncurrent liabilities
    670,581 737,996
    Total Amdocs Limited Shareholders' equity
    3,559,745 3,523,759
    Noncontrolling interests
    42,608 43,173
    Total equity
    3,602,353 3,566,932
    Total liabilities and equity
    $6,471,666 $6,425,653

    AMDOCS LIMITED
    Consolidated Statements of Cash Flows
    (In thousands)

    Three months ended
    December 31,
    2023 2022
    Cash Flow from Operating Activities:
    Net income
    $148,722 $129,872
    Reconciliation of net income to net cash provided by operating activities:
    Depreciation, amortization and impairment
    45,861 61,071
    Amortization of debt issuance cost
    149 145
    Equity-based compensation expense
    26,080 19,490
    Deferred income taxes
    (6,683) (16,973)
    Loss from short-term interest-bearing investments
    548 639
    Net changes in operating assets and liabilities, net of amounts acquired:
    Accounts receivable, net
    (66,657) (197,381)
    Prepaid expenses and other current assets
    4,452 16,069
    Other noncurrent assets
    (10,538) (848)
    Lease assets and liabilities, net
    (5,340) (1,251)
    Accounts payable, accrued expenses and accrued personnel
    95,787 82,136
    Deferred revenue
    (25,930) (6,194)
    Income taxes payable, net
    (18,066) (11,242)
    Other noncurrent liabilities
    (5,998) 7,693
    Net cash provided by operating activities
    182,387 83,226
    Cash Flow from Investing Activities:
    Purchase of property and equipment, net (a)
    (43,743) (33,703)
    Proceeds from sale of short-term interest-bearing investments
    8,534 3,734
    Net cash paid for business acquisitions
    (77,329) -
    Other
    928 (835)
    Net cash used in investing activities
    (111,610) (30,804)
    Cash Flow from Financing Activities:
    Repurchase of shares
    (158,525) (100,021)
    Proceeds from employee stock option exercises
    4,428 14,589
    Payments of dividends
    (51,053) (47,735)
    Distribution to noncontrolling interests
    (1,322) -
    Payment of contingent consideration from a business acquisition
    (1,500) (453)
    Net cash used in financing activities
    (207,972) (133,620)
    Net decrease in cash and cash equivalents
    (137,195) (81,198)
    Cash and cash equivalents at beginning of period
    520,080 573,377
    Cash and cash equivalents at end of period
    $382,885 $492,179

    AMDOCS LIMITED
    Supplementary Information
    (In millions)

    Three months ended

    December 31, September 30, June 30, March 31, December 31,
    2023 2023 2023 2023 2022
    North America
    $838.1 $834.4 $830.9 $829.0 $812.7
    Europe
    181.4 175.5 187.3 171.7 168.7
    Rest of the World
    225.7 232.6 217.8 222.6 204.3
    Total Revenue
    $1,245.2 $1,242.6 $1,236.0 $1,223.3 $1,185.7
    Three months ended
    December 31, September 30, June 30, March 31, December 31,
    2023 2023 2023 2023 2022
    Managed Services Revenue
    $722.5 $718.1 $719.8 $718.9 $699.8
    as of
    December 31, September 30, June 30, March 31, December 31,
    2023 2023 2023 2023 2022
    12-Month Backlog
    $4,210 $4,150 $4,140 $4,110 $4,090

    SOURCE: Amdocs Management Limited



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      Barclays upgraded Amdocs from Equal Weight to Overweight and set a new price target of $115.00 from $100.00 previously

      5/16/23 7:13:02 AM ET
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    • SEC Form 6-K filed by Amdocs Limited

      6-K - AMDOCS LTD (0001062579) (Filer)

      5/7/25 8:01:03 PM ET
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    • SEC Form 6-K filed by Amdocs Limited

      6-K - AMDOCS LTD (0001062579) (Filer)

      2/18/25 4:09:59 PM ET
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    • SEC Form 6-K filed by Amdocs Limited

      6-K - AMDOCS LTD (0001062579) (Filer)

      12/23/24 4:05:02 PM ET
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    • Amdocs and Google Cloud Announce Partnership Expansion to Optimize 5G Network Operations with AI

      Amdocs will launch a solution using Google Cloud's AI and BigQuery to automate network operations and enhance customer experiences SUNNYVALE, Calif., Feb. 26, 2025 /PRNewswire/ -- Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, and Google Cloud today announced a major initiative to transform how telecommunications companies operate, maintain, and optimize critical 5G network ecosystems with AI. Using Google Cloud's Vertex AI and BigQuery, Amdocs will launch its new Network AIOps solution to help 5G network providers automate complex network operations, enhance service reliability, and improve customer experiences.

      2/26/25 4:00:00 PM ET
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    • Amdocs Limited Files FY2024 Annual Report

      JERSEY CITY, NJ / ACCESSWIRE / December 17, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, has filed its Annual Report on Form 20-F for the fiscal year ended September 30, 2024 (including its financial statements for such year) with the U.S. Securities and Exchange Commission. The annual report is available through the Company's website (https://investors.amdocs.com/financial-information/sec-filings). Upon the request of a shareholder of the Company, the Company will promptly provide to such shareholder a copy of the 2024 annual report, free of charge.Supporting ResourcesKeep up with Amdocs news by visiting the company's website

      12/17/24 5:40:00 PM ET
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    • Agentic Era Gives Birth to a New Branding Paradigm

      In the agentic era, service-intensive brands will need to consider the brand impact of the generative AI-based agents' personality on their customers in every interactionAmdocs global study reveals consumer preferences when interacting with AI agents and the key considerations brands must address during their journey into the agentic era JERSEY CITY, NJ / ACCESSWIRE / December 5, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today released a global study*, "Rethinking Brand and Customer Experience in the Agentic Era," commissioned by Amdocs in collaboration with McCann Tech agency and Coleman Parkes, which explores the impact o

      12/5/24 8:00:00 AM ET
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    • Amdocs Limited Reports Fourth Quarter & Fiscal Year 2024 Results

      Record Fiscal 2024 Revenue of $5.00 Billion, up 2.4% YoY as Reported and 2.7% YoYin Constant Currency(1)Successfully Achieved Accelerated Profitability Improvement TargetsInitiates Fiscal 2025 Outlook:Sharpening Focus on Strategic Priorities while Phasing Out Certain Non-Core, Low Margin Business ActivitiesAs a Result of which Expects Fiscal 2025 Revenue Outlook of (10.9)%-(7.7)% YoY as Reported and 1%-4.5% YoY in Pro Forma(2) Constant Currency(1)Targeting Double-Digit Total Shareholder Returns(3)(4), Supported by Enhanced Profitability ImprovementBoard Approves 10% Increase of Quarterly Cash Dividend(4)Full Year Fiscal 2024 Highlights(All comparisons are against the prior year)Record revenu

      11/12/24 4:01:00 PM ET
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    • Amdocs Limited Reports Third Quarter Fiscal 2024 Results

      Record Quarterly Revenue of $1.25 Billion, up 1.1% YoY as Reported and 1.8% YoY in Constant Currency(1)Record 12-Month Backlog of $4.25 Billion, up 2.7% YoYUpdates Fiscal 2024 Outlook:Expects Revenue Growth of 1.9%-2.7% YoY as ReportedReiterates Midpoint of Revenue Growth Outlook in Constant Currency(1) while Tightening Expected Range to 2.3%-3.1% YoYOn-track to Achieve Accelerated Profitability Targets in Fiscal 2024Expects GAAP Diluted EPS Growth of 7.4%-9.2% YoYReiterates Midpoint of Non-GAAP Diluted EPS Growth Outlook while Tightening Expected Range to 8.5%-9.5% YoYThird Quarter Fiscal 2024 Highlights(All comparisons are against the prior year)Record revenue of $1,250 million, up 1.1% as

      8/7/24 4:01:00 PM ET
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    • Amdocs Limited Reports Second Quarter 2024 Results

      Record Quarterly Revenue of $1.25 Billion, up 1.8% YoY as Reported and 2% YoY in Constant Currency(1)Record 12-Month Backlog of $4.23 Billion, up ~3% YoYUpdates Fiscal 2024 Outlook:Expects Revenue Growth of 1.6%-3.6% YoY as Reported and 1.7%-3.7% YoY in Constant Currency(1)On-track to Deliver Accelerated Profitability in Fiscal 2024Expects GAAP Diluted EPS Growth of 7.0%-13.0% andNon-GAAP Diluted EPS Growth of 7.0%-11.0%Second Quarter Fiscal 2024 Highlights(All comparisons are against the prior year)Record revenue of $1,246 million, up 1.8% as reported and up 2.0% in constant currency(1); revenue was slightly above the midpoint of $1,225-$1,265 million guidance range and includes an unfavora

      5/8/24 4:10:00 PM ET
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    • Amdocs Awarded Two 2024 AWS Partner Awards

      Amdocs recognized as winner in two categories - Industry Partner of the Year - Telco (Global) and Industry Partner of the Year - Telco (North America), recognizing top AWS Partners who enable telco customers to drive innovationJERSEY CITY, NJ / ACCESSWIRE / December 3, 2024 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced it is a recipient of the 2024 Geography and Global AWS Partner Award, recognizing leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on Amazon Web Services (AWS). Amdocs has been named winner in two categories - Industry Partner of the Ye

      12/3/24 4:30:00 PM ET
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    Large Ownership Changes

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    • SEC Form SC 13G/A filed by Amdocs Limited (Amendment)

      SC 13G/A - AMDOCS LTD (0001062579) (Subject)

      2/9/24 11:49:02 AM ET
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    • SEC Form SC 13G/A filed by Amdocs Limited (Amendment)

      SC 13G/A - AMDOCS LTD (0001062579) (Subject)

      2/9/24 8:35:54 AM ET
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    • SEC Form SC 13G/A filed by Amdocs Limited (Amendment)

      SC 13G/A - AMDOCS LTD (0001062579) (Subject)

      2/9/23 8:23:46 AM ET
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