AudioCodes Reports Third Quarter 2019 Results
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AudioCodes (AUDC) PT Raised to $23 at Needham & Company
October 29, 2019 3:08 PM EDTNeedham & Company analyst Richard Valera raised the price target on AudioCodes (NASDAQ: AUDC) to $23.00 (from $20.00) while maintaining a Buy rating.
The analyst commented, " AUDC reported a beat and raise 3Q19. Revenue grew 15% y/y on broad-based demand for UC SIP products and despite relatively... More
AudioCodes Ltd. (AUDC) Tops Q3 EPS by 4c, Revenues Beat
October 29, 2019 6:14 AM EDTAudioCodes Ltd. (NASDAQ: AUDC) reported Q3 EPS of $0.24, $0.04 better than the analyst estimate of $0.20. Revenue for the quarter came in at $51.4 million versus the consensus estimate of $49 million.
Third Quarter Highlights
Quarterly revenues increased by 15.5% year-over-year to $51.4 million;Quarterly service revenues increased by 16.2% year-over-year to $16.3 million;Quarterly UC-SIP revenues increased more than 15% year-over-year;Quarterly GAAP gross margin percentage was 62.9%; quarterly Non-GAAP gross margin percentage was 63.2%;Quarterly GAAP operating margin percentage was 11.7%; quarterly Non-GAAP operating margin percentage was 14.5%;Quarterly cash flow from operating activities was $4.0... More