Amdocs Updates 2018 Guidance - Quick Facts

(RTTNews) - Amdocs Limited (DOX) announced, for 2018, the company expects non-GAAP earnings per share growth of roughly 5.0%-7.0% compared with previous guidance of 4.0%-8.0%. Revenue growth is expected in the range of 1.7%-2.7% on a constant currency basis compared with previous guidance of 1.3%-3.3%.

For the fourth-quarter, the company expects non-GAAP EPS of approximately $0.95-$1.01, and revenue of approximately $980 million-$1.02 billion.

For the third-quarter, net income on a non-GAAP basis was $147.5 million, or $1.03 per diluted share, compared to non-GAAP net income of $150.4 million, or $1.02 per diluted share, prior year. Revenue was $1.0 billion, up 3.7% as compared to last year's third fiscal quarter.

Separately, Amdocs announced that Eli Gelman, President and CEO of Amdocs Management Limited, has decided to retire at the end of fiscal year 2018 and will be replaced by Shuky Sheffer, a Senior Vice President and President of Global Business Group of Amdocs Management Limited.