JERSEY CITY, N.J. - Amdocs Limited (NASDAQ:DOX), a provider of software and services to communications companies, reported fourth quarter fiscal 2024 results that met analyst expectations, while providing its fiscal 2025 outlook.
The company reported Q4 non-GAAP earnings per share of $1.70, in line with analyst estimates. Revenue for the quarter came in at $1.26 billion, also matching consensus expectations.
For fiscal 2024, Amdocs achieved record revenue of $5.00 billion, up 2.4% year-over-year as reported and 2.7% in constant currency.
Looking ahead to fiscal 2025, Amdocs is sharpening its focus on strategic priorities while phasing out certain non-core, low margin business activities. As a result, the company expects fiscal 2025 revenue to decline 10.9% to 7.7% year-over-year as reported. However, on a pro forma constant currency basis adjusting for the phased out activities, Amdocs forecasts revenue growth of 1% to 4.5%.
"We enter fiscal 2025 as an industry leader with a unique competitive position, strong 12-month backlog visibility, and a high win rate," said Shuky Sheffer, President and CEO of Amdocs.
The company is targeting double-digit total shareholder returns in fiscal 2025, supported by enhanced profitability improvement. Amdocs' board also approved a 10% increase to the quarterly cash dividend.
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