Why NICE (NICE) Shares Are Surging Today - NICE (NASDAQ:NICE)

NICE Ltd NICE shares are gaining Thursday morning following its beat and raise quarterly performance.
NICE reported first-quarter FY23 revenue growth of 8% year-over-year to $571.9 million, beating the consensus of $564.8 million.
Cloud revenue grew by 25% Y/Y to $367.6 million. Adjusted Cloud gross margin was 70% compared to 68.6% last year.
Adjusted gross margin contracted by 135 bps to 71.7%. Adjusted operating income increased by 10% to $163.4 million, and the margin expanded by 30 bps to 28.6%.
Adjusted EPS was $2.03, beating the consensus of $1.98.
NICE generated $195.1 million in operating cash flow and held $1.68 billion in cash and equivalents at the end of the quarter.
"The first quarter was characterized by many seven-digit and eight-digit deals, demonstrating our superior win rate when it comes to delivering our CXone cloud platform at scale and our Enlighten AI CX solution," commented Barak Eilam, CEO of NICE.
2Q23 Guidance: NICE sees adjusted revenues of $573 million-$583 million versus a consensus of $577.36 million and Adjusted EPS of $2.00-$2.10 versus a consensus of $2.04.
FY23 Guidance, raised: The company sees adjusted total revenues of $2.35 billion- $2.37 billion (prior $2.345 billion-$2.365 billion) versus consensus of $2.36 billion.
It expects Adjusted EPS of $8.32-$8.52 (prior $8.28-$8.48), versus consensus of $8.39.
Price Action: NICE shares traded higher by 4.87% at $199.99 premarket on Thursday.

Why NICE Shares Are Surging Today