Q3 2024 Amdocs Ltd Earnings Call Transcript
Key Points
- Amdocs Ltd (DOX) reported record Q3 revenue of $1.25 billion, up nearly 2% year-over-year in constant currency.
- Non-GAAP operating margin was 18.6%, the highest in many years, reflecting ongoing margin expansion initiatives.
- The company ended Q3 with a record-setting 12-month backlog of $4.25 billion, up approximately 3% from a year ago.
- Amdocs Ltd (DOX) increased its pace of buyback activity in Q3, repurchasing approximately $169 million of shares.
- Strong sales momentum in cloud solutions, highlighted by significant deals with AT&T, TELUS, and VodafoneZiggo.
- North America revenue declined slightly year-over-year, although it grew sequentially.
- Europe showed weaker performance due to timing differences between project completions and new deal ramp-ups.
- The company continues to operate in a challenging industry demand environment with no immediate improvement in sight.
- Amdocs Ltd (DOX) incurred a restructuring charge of approximately $15 million in Q3, impacting GAAP EPS.
- The macroeconomic and geopolitical uncertainties remain elevated, affecting the overall business environment.
Good day and thank you for standing by. Welcome to the Amdocs third quarter 2024 earnings call. (Operator Instructions). Please be advised today's call is being recorded.
I would now like to hand the conference over to your speaker today, Matthew Smith. Please go ahead.
Thank you, Kevin. And before we begin, I need to call your attention to our disclaimer statement on slide 2 of the presentation. It notes that some of our comments today may be forward-looking statements and are subject to risks and uncertainties, including those described in Amdocs's SEC filings and that we will discuss certain financial information that is not prepared in accordance with GAAP. For more information regarding our use of non-GAAP financial measures, including reconciliations of these measures, we refer you to today's earnings release, which will also be furnished with the SEC- on Form 6-K.
Participating on the call with me today are Shuky Sheffer, President and Chief Executive Officer of
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