Nice: Revenue of $ 515 million in the last quarter of 2021 was higher than forecast

NICE summarizes its results for the last quarter and for 2021 as a whole. "The fourth quarter was a dream for us, I have worked at NICE for more than twenty years, of which eight years as CEO, and this is the strongest organic growth we have ever had," concluded Barak Eilam, NICE CEO.
"Equally important, the bulk of NICE's growth comes from the cloud, with cloud revenue reaching $ 1 billion and 55% of total turnover, compared to 43% in 2020. The second important milestone we reached this year is that revenue already reaches $ 2 billion. dollar".
NICE, one of the oldest and largest Israeli companies engaged in customer service management software, grew by 19% in the annual summary, and at a similar rate of 17% in the fourth quarter. Revenue of $ 515 million in the last quarter of 2021 was higher than forecast, providing a positive year-end closing chord, which ended with revenue of $ 1.92 billion.
Cloud activity is growing at a much faster rate, at 30% of the company's activity in the fourth quarter and throughout the year. Quarterly operating profit remained unchanged at $ 65 million, but in the annual total increased by 15% to half a billion dollars. On the bottom line, NICE posted a net profit of $ 1.73 per share, which was slightly higher than forecasts for the quarter, and in 2021 total NICE earned $ 2.98 per share, similar to 2020.

NICE recorded a successful quarter, but provided a lukewarm forecast; "We will recruit hundreds of employees this year"
NICE shares fall in Tel Aviv and pre-New York after the reports: The company reported that in the current year the growth rate will slow to 12%; revenues in the fourth quarter were $ 515 million, above market expectations; CEO Barak Eilam: "NICE employees realized in a year Which transferred options for $ 200 million. "
NICE, one of the oldest and largest Israeli companies engaged in customer service management software, grew by 19% in the annual summary, and at a similar rate of 17% in the fourth quarter. Revenue of $ 515 million in the last quarter of 2021 was higher than forecast, providing a positive year-end closing chord, which ended with revenue of $ 1.92 billion.
Cloud activity is growing at a much faster rate, at 30% of the company's activity in the fourth quarter and throughout the year. Quarterly operating profit remained unchanged at $ 65 million, but in the annual total increased by 15% to half a billion dollars. On the bottom line, NICE posted a net profit of $ 1.73 per share, which was slightly higher than forecasts for the quarter, and in 2021 total NICE earned $ 2.98 per share, similar to 2020.
According to the forecast that NICE provided with the publication of the reports, in the current year the growth rate will slow to 12%, and this conservative forecast leads to a 2.5% decline in NICE shares before the opening of trading in New York as well as in Tel Aviv. $ 16 billion and sitting on $ 1.5 billion in cash, NICE is likely to take advantage of the declines on Wall Street in recent months to acquire companies at lower multiplier levels than they have been in the past two years.
"We do not feel that with the exit of the world from the corona there is a slowdown. On the contrary, the demand here is only increasing. What we are currently going through on Wall Street is a very healthy thing, such periods are interesting test periods that separate companies with good infrastructure and transient fashion companies. "Such opportunities also arise because the multipliers make more sense, and we have a rich history as an acquirer," Eilam adds.