Amdocs Stock Plummets 44% After Hours on Disappointing Forecast
Translated & summarized from TheMarker by baba
Amdocs' stock fell 44% after hours following a weak financial forecast, despite meeting third-quarter revenue expectations of $1.19 billion. The company projects a 14-17% revenue drop by fiscal year 2027, citing a dispute with T-Mobile. Amdocs also plans to acquire EIS for $340 million.
The story in 5 lines · by baba
- Amdocs stock dropped 44% after hours due to a disappointing financial forecast.
- The company reported $1.19 billion in revenue for the quarter ending September.
- Amdocs expects a 14-17% revenue decrease by fiscal year 2027.
- A dispute with customer T-Mobile is cited as a reason for the poor outlook.
- Amdocs will acquire insurance tech provider EIS for $340 million.
Amdocs, a major software and billing services company, met third-quarter expectations but disappointed investors with a weak future outlook, causing its stock to drop 44% in after-hours trading on Wall Street. The company reported revenues of $1.19 billion for the quarter ending in September, a slight increase from $1.15 billion in the same period last year. Amdocs anticipates a 14% to 17% revenue decline for the 2027 fiscal year, with a sharp fall in profits, primarily due to a dispute with its customer T-Mobile. In addition to the forecast, Amdocs announced it would acquire insurance technology provider EIS for $340 million in cash.
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