Amdocs Q2 Profit Down

(RTTNews) - Software company Amdocs Ltd (DOC) on Thursday posted second-quarter net income of $119 million or $0.91 per share, lower than $127 million or $0.94 per share in the same period last year.

Net income, excluding certain items, came in at $148 million or $1.13 per share, compared to $146 million or $1.08 per share in the year-ago quarter.

On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Quarterly revenues were relatively flat at $1.05 billion, while six analysts had a consensus revenue estimate of $1.04 billion. Looking ahead to the third quarter, the company expects earnings per share between $0.91 and $0.99. Adjusted earnings is expected between $1.14 and $1.20. On average, 7 analysts expect the company to report earnings of $1.18 per share in the quarter.

In the third quarter, revenues are anticipated to between $1.04 billion and $1.08 billion, while analysts are looking for $1.05 billion in revenues. For full year 2021, the company now expects earnings per share growth of 39 percent to 44 percent, compared to prior estimate of 37.5 percent to 44.5 percent. Adjusted earnings per share growth are expected to be between 6 to 9 percent, compared to prior outlook of 4 to 8 percent.

The company expects revenue growth of 1 to 4 percent, compared to previous estimate of 0.30 percent to 3.7 percent. Six analysts expect revenue growth of 1.8 percent.