Nice Q3 revenue (Non-GAAP) increased by about 20% to $ 494.4 million

Nice closed a strong quarter and with it it raises forecasts for the entire year. In response to reports and rising forecasts, the stock is soaring more than 9% in New York.
The company's reports show that revenue (Non-GAAP) in the third quarter of 2021 increased by about 20% to $ 494.4 million compared to $ 412.4 million in the same quarter last year. Gross profit increased to $ 357.5 million compared to $ 292.9 million in the same quarter last year. The rate of gross profit (Non-GAAP) in the third quarter of the year amounted to 72.3% compared to 71.0% in the corresponding quarter last year.
Non-GAAP operating income in the third quarter of 2021 increased by 20% to $ 140 million compared to $ 116.8 million in the same quarter last year. The rate of operating profit (Non-GAAP) in the third quarter of 2021 amounted to 28.3% compared to 28.3% in the corresponding quarter last year.
Net income (Non-GAAP) in the third quarter of the year increased by 20.3% to $ 112.6 million compared to $ 93.6 million in the same quarter last year. The rate of net profit (Non-GAAP) in the third quarter of 2021 amounted to 22.8% compared to 22.7% in the corresponding quarter last year.
As mentioned, the company has raised its earnings forecast for the entire year and it estimates that the earnings forecast (Non-GAAP) per share is fully diluted in the range of $ 6.43 to $ 6.53.
Barak Eilam, the company's CEO, said, “We are pleased to report a quarter of accelerated revenue growth that increased by 20% in the third quarter compared to the same quarter last year. The excellent results in the third quarter reflect our leading position, as well as our strategic role in the four main growth engines in the industry - cloud, digital, AI and the transition to innovative platforms.
"We are witnessing a sustained strong momentum in the cloud with 28% growth in third quarter revenue, as well as significant market leadership with over 725,000 CXone users worldwide. Revenue in digital growth grew 78% in the third quarter. In addition, the number of Enlighten transactions increased by "Due to the growing demand for artificial intelligence and we continue to replace competitors, whose customers choose to move to an advanced CX platform in the cloud. A large part of the platform's success comes from increasing adoption among large organizations, where we saw a 46% increase in transactions over the same quarter last year."