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Analyst’s Disclosure: I/we have a beneficial long position in the shares of DOX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

One stock to keep an eye on is Amdocs (DOX - Free Report) . DOX is currently sporting a Zacks Rank #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 11.05 right now. For comparison, its industry sports an average P/E of 17.06. Over the past year, DOX's Forward P/E has been as high as 13.67 and as low as 11.05, with a median of 12.19.

DOX is also sporting a PEG ratio of 1.25. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. DOX's industry currently sports an average PEG of 2.04. Within the past year, DOX's PEG has been as high as 1.38 and as low as 1.13, with a median of 1.26.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. DOX has a P/S ratio of 1.21. This compares to its industry's average P/S of 1.51.

These are just a handful of the figures considered in Amdocs's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that DOX is an impressive value stock right now.

Store Genie is already delivering strong results at Smart Communications, helping modernize retail and frontline operations. Built on Amdocs aOS with Amazon Bedrock AgentCore, the solution now helps reduce customer resolution time by up to 98% at PLDT Home

JERSEY CITY, NJ / ACCESS Newswire / June 23, 2026 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced the successful deployment of Store Genie, its agentic AI-powered customer service solution, for PLDT Home, the wireline and broadband division of PLDT Inc., a leading telecommunications and digital service provider in the Philippines. The deployment transforms customer engagement and service operations across PLDT Home's nationwide sales and service centers and builds on the successful rollout of Store Genie at Smart Communications, the wireless subsidiary of PLDT, announced earlier this year, where the solution is already helping modernize retail and frontline operations through agentic AI-powered automation and intelligence.

Powered by Amdocs' aOS, an agentic operating system purpose-built for telecommunications, and built on Amazon Web Services (AWS) using Amazon Bedrock AgentCore Gateway for multi-agent orchestration, Store Genie now operates across both Smart and PLDT Home, serving over 750 frontline agents across 149 locations. The solution orchestrates multiple purpose-built AI agents specializing in billing, provisioning, network, and payment workflows that collaborate in real time to diagnose and resolve customer issues without manual escalation. Amazon Bedrock AgentCore Gateway connects these agents directly to PLDT's existing BSS/OSS systems through a unified endpoint, requiring no transformation of underlying APIs.

The deployment at PLDT Home introduces new broadband-specific use cases, including order inquiry and triage, OTT subscription activation, service request cancellation, and end-to-end order visibility. Processes that previously took hours can now be completed in minutes, with order inquiries reduced from 10 hours to two minutes, OTT subscription activations from 12 hours to two minutes, and service request cancellations from five hours to two minutes. Leveraging multi-model AI architecture, the solution has achieved a 95% reduction in token costs while continuously improving resolution accuracy through self-learning capabilities.

Since its deployment at Smart in March this year, Store Genie has helped avoid more than 61,000 hours of customer wait time, resolved over 44,000 customer inquiries through AI agents, increased frontline productivity by 25%, and reduced escalation tickets by 50% across Smart and PLDT Home operations. Frontline teams now work through a single natural-language interface that replaces four applications and ten separate screens previously required to serve a customer.

"At PLDT Home, we are focused on delivering simpler, faster, and more seamless experiences for our customers while empowering our frontline teams with the tools they need to serve them effectively," said John Palanca, Senior Vice President, PLDT Head of Home Consumer Business. "By leveraging Store Genie, we are embedding agentic AI directly into our customer-facing operations, enabling real-time resolution of customer requests, improving operational efficiency, and creating a more connected experience for customers across our nationwide service network."

"The next generation of AI is about orchestrating specialized agents that can reason, act, and collaborate across enterprise workflows," said Ishwar Parulkar, Chief Technolgist, Telco at AWS. "Store Genie demonstrates how organizations can leverage Amazon Bedrock AgentCore to deploy and scale agentic AI in production environments, delivering measurable business outcomes while reducing operational complexity."

"There's no doubt that the growing adoption of agentic transformation is improving outcomes across key telecom domains; from care to commerce, IT operations to network management," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "Yet, as AI agents tackle increasingly complex telecom processes, the value grows disproportionately when deployed across channels, teams, and lines of business. The expansion of Store Genie to PLDT Home, delivered in under eight weeks, demonstrates how communications service providers can rapidly scale AI with Amdocs aOS - from a single customer touchpoint to broader enterprise operations. What began in retail now serves as a foundation for intelligent customer engagement across the business, powered by a common, scalable architecture."

Supporting Resources

Learn more about aOS, here

Keep up with Amdocs news by visiting the company's website

Follow us on X, Facebook, LinkedIn, and YouTube

About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, for the first quarter of fiscal 2026 on February 17, 2026, and for the second quarter of fiscal 2026 on May 26, 2026.

Media Contacts

Swati Sharma
Amdocs Public Relations
E-mail: [email protected]

SOURCE: Amdocs Management Limited

Transformation program to be delivered on the Amdocs Customer Engagement Platform, part of aOS agentic operating system, enabling a unified, AI-native, future-ready engagement foundation

JERSEY CITY, NJ / ACCESS Newswire / June 24, 2026 / Amdocs (NASDAQ:DOX), a leading provider of software and services for communications and media companies, today announced that telecom operator Three Scandinavia has selected Amdocs as a strategic partner to support parts of its ongoing business and digital transformation across Sweden and Denmark.

The program is focused on simplifying and modernizing selected customer engagement and commerce capabilities, supporting more consistent and efficient operations across the Nordic markets.

As part of the engagement, Amdocs will deploy its Customer Engagement Platform to help consolidate key processes across marketing, sales and service, enabling more seamless omnichannel experiences and improved operational efficiency. The approach is designed to be implemented in phases, allowing Three Scandinavia to continue to deliver products, services and improvements to customers throughout the transformation.

The initiative will also enable improved use of data and automation to support better decision-making and more streamlined workflows across the customer lifecycle, across both consumer and business segments where relevant.

"Three Scandinavia has always been a challenger in the market, and together with Amdocs we are ready to take the next step to offer our customers a better experience. Through this program, we are taking further steps to simplify how we operate and strengthen the experience we provide to our customers," said Rajib Eklund, CTIO at Three Scandinavia. "The focus is on building a more scalable and efficient foundation while continuing to develop our commercial offering and maintain momentum in the market."

"Three Scandinavia has a clear ambition to simplify its operations and enhance customer engagement across its Nordic footprint," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "We are pleased to support this journey with our platform and telecom expertise, helping to enable more efficient processes and improved customer experiences."

Supporting Resources

Learn more about aOS, here

Read more about Amdocs' Customer Engagement Platform, here

Keep up with Amdocs news by visiting the company's website

Follow us on X, Facebook, LinkedIn, and YouTube

About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ: DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, for the first quarter of fiscal 2026 on February 17, 2026, and for the second quarter of fiscal 2026 on May 26, 2026.

Media Contacts

Mario Hajiloizi
Amdocs Public Relations
E-mail: [email protected]

SOURCE: Amdocs Management Limited

It has been about a month since the last earnings report for Amdocs (DOX - Free Report) . Shares have lost about 9.5% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Amdocs due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Amdocs Limited before we dive into how investors and analysts have reacted as of late.

Amdocs Q2 Earnings Surpass Estimates, Revenues Rise Y/YAmdocs reported better-than-expected second-quarter fiscal 2026 results. DOX’s non-GAAP earnings of $1.78 per share came above the midpoint of management’s guidance of $1.73-$1.79 and remained flat on a year-over-year basis. The figure also surpassed the Zacks Consensus Estimate of $1.77.

Amdocs’ fiscal second-quarter revenues of $1.172 billion topped the consensus mark of $1.167 billion and came above the midpoint of management’s guidance of $1.15-$1.19 billion. The top line increased 3.9% on a reported basis and 2.2% on a constant-currency basis.

Amdocs’ Q2 DetailsDOX reported growth in revenues across North America, Europe and the Rest of the World (RoW). North America reported revenues of $754.3 million (64.4% of the total revenues), which increased 2.2% year over year. Europe revenues (16.4% of the total revenues) of $191.8 million advanced 6.1% year over year.

RoW revenues (19.2% of the total revenues) increased 7.9% year over year to $225.8 million. Our model estimates for North America, Europe and RoW were pinned at $766.6 million, $204.3 million and $195.1 million, respectively.

Managed services revenues rose 1.6% year over year to $758.7 million. The company ended the second quarter of fiscal 2026 with a 12-month backlog of $4.28 billion, up $30 million sequentially. Our model estimates for managed services revenues and backlog were pegged at $767.3 million and $4.27 billion, respectively.

The non-GAAP operating income increased 5% year over year to $252 million, whereas the operating margin expanded 20 basis points to 21.5%.

DOX’s Balance Sheet & Cash FlowAmdocs had cash and cash equivalents of $214.5 million as of March 31, 2026, compared with $247.9 million as of Dec. 31, 2025. Long-term debt was $647.2 million as of March 31, 2026, increasing marginally from the Dec. 31, 2025, level of $647 million.

In the fiscal second quarter, the company generated an operating cash flow of $101.6 million and a free cash flow of $80.3 million. During the quarter, it repurchased shares worth $138 million and paid out $57 million in dividends.

Amdocs Updates FY26 GuidanceFor fiscal 2026, DOX expects revenues to grow 2.6-4.6% compared with the earlier mentioned 1.5-5.5% rise.

The non-GAAP operating margin is anticipated to be 21.3-21.9% for fiscal 2026. Non-GAAP earnings per share are expected to grow 5-7%, instead of the earlier stated 4-8% range.

The company expects the free cash flow between $710 million and $730 million.

Amdocs also initiated the guidance for the third quarter of fiscal 2026. For the fiscal third quarter, the company expects revenues of $1.155-$1.195 billion.

Amdocs expects non-GAAP earnings per share between $1.81 and $1.87.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.

VGM ScoresCurrently, Amdocs has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top 20% for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Amdocs has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerAmdocs is part of the Zacks Computers - IT Services industry. Over the past month, CDW (CDW - Free Report) , a stock from the same industry, has gained 26.4%. The company reported its results for the quarter ended March 2026 more than a month ago.

CDW reported revenues of $5.68 billion in the last reported quarter, representing a year-over-year change of +9.2%. EPS of $2.28 for the same period compares with $2.15 a year ago.

CDW is expected to post earnings of $2.77 per share for the current quarter, representing a year-over-year change of +6.5%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.5%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for CDW. Also, the stock has a VGM Score of B.

Investors with an interest in Computers - IT Services stocks have likely encountered both Amdocs (DOX - Free Report) and Infosys (INFY - Free Report) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.

We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.

Currently, Amdocs has a Zacks Rank of #2 (Buy), while Infosys has a Zacks Rank of #4 (Sell). This means that DOX's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one factor that value investors are interested in.

Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.

The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.

DOX currently has a forward P/E ratio of 8.87, while INFY has a forward P/E of 16.57. We also note that DOX has a PEG ratio of 1.04. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. INFY currently has a PEG ratio of 1.79.

Another notable valuation metric for DOX is its P/B ratio of 2.06. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, INFY has a P/B of 6.1.

These are just a few of the metrics contributing to DOX's Value grade of A and INFY's Value grade of C.

DOX stands above INFY thanks to its solid earnings outlook, and based on these valuation figures, we also feel that DOX is the superior value option right now.

Amdocs is rated a Buy, offering strong free cash flow, resilient fundamentals, and attractive valuation near 52-week lows. DOX boasts a $4.25B backlog, robust managed services, and recent acquisitions (MATRIXX, Profinit) driving half of projected 2026 revenue growth. Free cash flow yield stands at 10%, with 90% earnings conversion, a rising 3.5% dividend, and $840M in buyback authorization through 2025.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.

Zacks Premium includes access to the Zacks Style Scores as well.

What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Amdocs (DOX - Free Report) Amdocs Limited is one of the leading providers of customer care, billing and order management systems for communications and Internet services.

DOX is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. DOX has a Growth Style Score of B, forecasting year-over-year earnings growth of 6.4% for the current fiscal year.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $7.44 per share. DOX boasts an average earnings surprise of +2.2%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, DOX should be on investors' short list.

Wednesday, 13 May 2026 04:01 PM

Topic: 

Earnings Revenue of $1.17 Billion, up 3.9% YoY as Reported and up 2.2% YoY in Constant Currency(1)

Expects Fiscal 2026 Revenue Growth Outlook of 2.6%-4.6% YoY as Reported

Reiterates Midpoint of Fiscal 2026 Revenue Growth Outlook in Constant Currency(1) while Tightening Expected Range to 2.0%-4.0% YoY

Announces Retirement of Long-Serving CFO and Appointment of Internal CFO Successor

Second Quarter Fiscal 2026 Highlights

(All comparisons are against same quarter of the prior year, unless otherwise stated)

Revenue of $1,172 million, up 3.9% as reported and up 2.2% in constant currency(1); revenue was above the midpoint of the $1,150-$1,190 million guidance range and includes a positive impact from foreign currency movements of approximately $2 million relative to our guidance assumptions

Revenue of $754 million in North America, up 2.2%; record revenue of $192 million in Europe, up 6.2%; revenue of $226 million in Rest of World, up 8.0% 

Managed services revenue of $759 million, equivalent to approximately 65% of total revenue and up 1.6% 

GAAP diluted EPS of $1.28, above the midpoint of the guidance range of $1.22-$1.30

Non-GAAP diluted EPS of $1.78, above the midpoint of the guidance range of $1.73-$1.79

GAAP operating income of $183 million; GAAP operating margin of 15.6%, down 190 basis points compared to last year’s second quarter and 230 basis points sequentially, mainly due to costs related to leadership transition as well as benefit from changes in certain acquisitions related liabilities measured at fair value in the first fiscal quarter

Non-GAAP operating income of $252 million; non-GAAP operating margin of 21.5%, up 20 basis points as compared to last year’s second fiscal quarter and down 10 basis points sequentially 

Free cash flow of $80 million, comprised of cash flow from operations of $102 million, including $17 million of restructuring payments, less $21 million in net capital expenditures(2); excluding restructuring payments, free cash flow was $97 million; reiterates full year fiscal 2026 free cash outlook of $710 million to $730 million, excluding restructuring payments

Repurchased $138 million of ordinary shares during the second fiscal quarter

Twelve-month backlog of $4.28 billion, up $30 million sequentially and up 2.6% 

Amdocs Limited (the “Company” or “Amdocs”) announced today that Tamar Rapaport-Dagim, Chief Financial Officer and Chief Operating Officer, has decided to retire from the Company following a distinguished career spanning over two decades. Tal Rozenfeld, currently General Manager Head of Finance, has been appointed Chief Financial Officer, effective June 1st, 2026. Tamar will continue to complete the transition process to help ensure a seamless handover of responsibilities.

(1) Revenue on a constant currency basis assumes exchange rates in the current period were unchanged from the prior period
(2)Please refer to the Selected Financial Metrics tables below (figures may not sum because of rounding)

JERSEY CITY, NJ / ACCESS Newswire / May 13, 2026 / Amdocs Limited (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today reported operating results for the three months ended March 31, 2026.

"I'm excited to be leading Amdocs forward in the agentic era, as our vision is to become the primary partner of choice to turn the agentic opportunity into reality for our customers. We believe Amdocs is uniquely positioned to lead due to our deep industry knowledge and telco domain expertise, engineering and innovation pedigree, mission critical systems transformation leadership and our outcome-based business model. To realize our vision, we are aiming to move towards an agentic and automated portfolio, tailor agentic customer roadmaps, leverage strategic partnerships, and internally transform the way we operate. While we are continuing to refine our strategy, we are already seeing initial commercial engagements with the launch of aOS- Amdocs' agentic operating system for telco.

We are building this strategy on our strong business foundations, as demonstrated by solid Q2 results which show healthy sales, strong customer relationships and consistent operating execution," said Shimie Hortig, president and chief executive officer of Amdocs Management Limited.

"Project delivery continued as a defining strength for Amdocs this quarter, as reflected by many production milestones achieved for AT&T, Vodafone Germany and other flagship customers worldwide. Profitability improved year-over-year, demonstrating our continued focus on operational excellence and automation, and we generated healthy free cash flow of which we returned more than 100% to shareholders though share repurchases and dividend payments," said Tamar Rapaport-Dagim, chief financial officer and chief operating officer of Amdocs Management Limited.

Hortig continued, "I'm pleased with our financial and operational progress for the fiscal year to date, and while we are closely monitoring macroeconomic developments and customer spending behavior in the current climate, we are on track to achieve our fiscal 2026 financial guidance."

Hortig concluded, "On behalf of the Board and the entire leadership team, I want to thank Tamar for her exceptional leadership, partnership and dedication over the past 22 years. Throughout her tenure, Tamar has played a critical role in strengthening our financial foundation, leading operational excellence, supporting our strategic growth and helping position the company for long-term success. We are deeply grateful for her many contributions and wish her the very best. We are very pleased to appoint Tal Rozenfeld as our next Chief Financial Officer. Tal brings deep financial expertise, strong operational and business knowledge and a proven track record of leadership. Tal has been an important part of our finance and leadership team, and we are confident he will play a key role in driving the next phase of Amdocs' growth and execution."

Revenue

(All comparisons are against same quarter as the prior year, unless otherwise stated )

In millions

Three months ended

March 31, 2026

Actual

Guidance

Revenue

$1,172

$ 1,150 - $1,190

Revenue Growth, as reported

3.9%

Revenue Growth, constant currency(1)

2.2%

Revenue for the second fiscal quarter of 2026 was above the midpoint of Amdocs' guidance and includes positive impact from foreign currency movement of $2 million compared to our guidance assumptions

Revenue for the second fiscal quarter includes a positive impact from foreign currency movements of $19 million relative to the second quarter of fiscal 2025 and a positive impact from foreign currency movements of $3 million relative to the first quarter of fiscal 2026

Net Income and Earnings Per Share

In thousands, except per share data

Three months ended

March 31,

2026

2025

GAAP Measures

Net Income

$138,772

$164,001

Net Income attributable to Amdocs Limited

$137,815

$163,243

Diluted earnings per share

$1.28

$1.45

Non-GAAP Measures

Non-GAAP Net Income

$192,501

$201,017

Non-GAAP Net Income attributable to Amdocs Limited

$191,544

$200,259

Non-GAAP Diluted earnings per share

$1.78

$1.78

Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition related liabilities measured at fair value, equity-based compensation expenses, restructuring charges, and other, net of related tax effects. For further details of the reconciliation of selected financial metrics from GAAP to Non-GAAP, please refer to the tables below

Capital Allocation & Liquidity

Quarterly Cash Dividend Program: On May 13, 2026, the Board approved the Company's next quarterly cash dividend payment at the rate of $0.569 per share, and set June 30, 2026 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on July 31, 2026

Share Repurchase Activity: Repurchased $138 million of ordinary shares during the second quarter of fiscal 2026

Commercial Paper Program: In March 2026, the Company established a commercial paper program, supported by the Revolving Credit Facility under which it may issue unsecured commercial paper up to a total of $800 million outstanding at any time, with maturities of up to 397 days from the date of issue. The net proceeds from the issuance of commercial paper are expected to be used for general corporate purposes. As of March 31, 2026, there was no outstanding borrowing amount under the commercial paper program

Revolving Credit Facility: In March 2026, the Revolving Credit Facility was amended to increase the amount from $500 million to an aggregate amount of $800 million

Twelve-month Backlog

Twelve-month backlog was $4.28 billion at the end of the second quarter of fiscal 2026, up approximately 2.6% as compared to last year's second fiscal quarter. Twelve-month backlog includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities.

Third Quarter Fiscal Year 2026 Outlook

In millions, except per share data

Q3 - 2026

Revenue

$ 1,155-$1,195

GAAP Diluted earnings per share

$ 1.39-$1.47

Non-GAAP Diluted earnings per share

$ 1.81-$1.87

Third quarter revenue guidance assumes a negative $1 million sequential impact from foreign currency fluctuations as compared to the second quarter of fiscal 2026

GAAP diluted EPS guidance does not include the impact of future restructuring charges

Third quarter non-GAAP diluted EPS guidance excludes primarily equity-based compensation expense of approximately $0.22-$0.24 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.16 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects

Full Year Fiscal 2026 Outlook

FY 2026 - Year-over -Year growth

Current guidance

Previous guidance

Revenue Growth, as reported

2.6%-4.6%

1.5%-5.5%

Revenue Growth, constant currency (1)

2.0%-4.0%

1.0%-5.0%

GAAP Diluted earnings per share

12.0%-15.0%

10.0%-17.0%

Non-GAAP Diluted earnings per share

5.0%-7.0%

4.0%-8.0%

FY 2026, in millions

Current guidance

Previous guidance

Free Cash Flow (2)

$ 710-$730

$ 710-$730

Full year fiscal 2026 revenue guidance incorporates an expected positive impact from foreign currency fluctuations of approximately 0.6% year-over-year compared with a positive impact of 0.5% year-over-year previously, and includes some inorganic contribution

GAAP diluted EPS guidance does not include the impact of future restructuring charges

Non-GAAP diluted earnings per share growth excludes primarily equity-based compensation expense of approximately $0.97-$1.01 per share, amortization of purchased intangible assets and other acquisition-related costs of approximately $0.58 per share, changes in certain acquisitions related liabilities measured at fair value, and other, net of related tax effects

Non-GAAP operating margin is anticipated to be within a range of 21.3% to 21.9% for the full year fiscal 2026

Non-GAAP operating margin is comprised of GAAP operating margin, excluding amortization of purchased intangible assets and other, equity-based compensation expense, restructuring charges, and changes in certain acquisitions related liabilities measured at fair value

Non-GAAP effective tax rate is anticipated to be within a range of 16% to 19% for the full year fiscal 2026

Reiterates full year fiscal 2026 free cash flow(2) of $710 million to $730 million, excluding payments related to restructuring charges; free cash flow(2) is comprised of cash flow from operations, less net capital expenditures

The forward-looking statements regarding our third fiscal quarter 2026 and full year fiscal 2026 guidance take into consideration the Company's current expectations regarding macroeconomic, geopolitical and industry specific risks and various uncertainties and certain assumptions, some of which we will discuss on our earnings conference call. However, we note that market dynamics continue to shift rapidly and we cannot predict all possible outcomes, including those resulting from certain geopolitical events, the current inflationary environment, changes to trade policies including tariffs and trade restrictions and the resulting impact on economic activities (as our outlook assumes current economic conditions do not deteriorate significantly due to trade policy or other macro factors), global or regional events, and the prevailing level of macro-economic, business and operational uncertainty, including customer spending behavior which have created, and continue to create, a significant amount of uncertainty, or from current and potential customer consolidation or their other strategic corporate activities. See "Forward-Looking Statements" below.

Conference Call and Earnings Webcast Presentation Details

Amdocs will host a conference call and earnings webcast presentation on May 13, 2026 at 5:00 p.m. Eastern Time to discuss the Company's second quarter of fiscal 2026 results. To participate in the call, please register here to receive the dial-in numbers and unique access PIN. The conference call and webcast will also be carried live on the Internet and may be accessed via the Amdocs website at https://investors.amdocs.com. Presentation slides will be available shortly before the webcast.

Non-GAAP Financial Measures
This release includes non-GAAP financial measures, including non-GAAP diluted earnings per share, free cash flow(2), revenue on a constant currency(1) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth. These other non-GAAP measures exclude the following items:

amortization of purchased intangible assets and other acquisition-related costs;

changes in certain acquisition-related liabilities measured at fair value;

restructuring and unusual charges or benefits;

equity-based compensation expense;

other; and

tax effects related to the above.

Free cash flow(2) equals cash generated by operating activities less net capital expenditures. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP financial measures, including non-GAAP diluted earnings per share, free cash flow(2), revenue on a constant currency(1) basis, non-GAAP cost of revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expenses, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income, non-GAAP net income attributable to Amdocs Limited and non-GAAP diluted earnings per share growth when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisition-related liabilities measured at fair value, restructuring and unusual charges or benefits, equity-based compensation expense, other and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these items in reviewing its results and those of its competitors, because the amounts of the items between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the items.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of revenue, research and development, selling, general and administrative, operating income, interest and other expenses, net, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments. Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

Supporting Resources

Keep up with Amdocs news by visiting the Company's website

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About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Forward-Looking Statements

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' strategy, including with respect to artificial intelligence and agentic opportunities, growth, financial outlook, and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks, uncertainties, and other important factors that may cause future results to differ materially from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, and our Form 6-K furnished for the first quarter of fiscal 2026 on February 17, 2026.

Contact:
Matthew Smith
Head of Investor Relations
Amdocs
314-212-8328
E-mail: [email protected]

AMDOCS LIMITED

Consolidated Statements of Income
(In thousands, except per share data)

Three months ended
March 31,

Six months ended
March 31,

2026

2025

2026

2025

Revenue

$

1,171,979

$

1,128,203

$

2,327,918

$

2,238,258

Operating expenses:

Cost of revenue

716,733

698,049

1,444,456

1,380,308

Research and development

87,001

81,796

168,979

166,129

Selling, general and administrative

153,677

134,625

267,398

256,712

Amortization of purchased intangible assets and other

21,308

15,998

35,842

31,757

Restructuring charges

10,405

-

21,706

6,783

989,124

930,468

1,938,381

1,841,689

Operating income

182,855

197,735

389,537

396,569

Interest and other expense, net

(5,963

)

(8,465

)

(17,228

)

(14,874

)

Income before income taxes

176,892

189,270

372,309

381,695

Income taxes

38,120

25,269

75,083

65,842

Net income

$

138,772

$

164,001

$

297,226

$

315,853

Net income attributable to noncontrolling interests

957

758

1,845

1,477

Net income attributable to Amdocs Limited

$

137,815

$

163,243

$

295,381

$

314,376

Basic earnings per share attributable to Amdocs Limited

$

1.29

$

1.46

$

2.75

$

2.80

Diluted earnings per share attributable to Amdocs Limited

$

1.28

$

1.45

$

2.74

$

2.78

Cash dividends declared per ordinary share

$

0.569

$

0.527

$

1.096

$

1.006

Basic weighted average number of shares outstanding

107,095

111,961

107,541

112,357

Diluted weighted average number of shares outstanding

107,472

112,514

107,997

112,981

AMDOCS LIMITED
Selected Financial Metrics
(In thousands, except per share data)

Three months ended
March 31,

Six months ended
March 31,

2026

2025

2026

2025

Revenue

$

1,171,979

$

1,128,203

$

2,327,918

$

2,238,258

Non-GAAP operating income

251,836

240,106

501,775

475,504

Non-GAAP net income

192,501

201,017

389,632

389,894

Non-GAAP net income attributable to Amdocs Limited

191,544

200,259

387,787

388,417

Non-GAAP diluted earnings per share

$

1.78

$

1.78

$

3.59

$

3.44

Diluted weighted average number of shares outstanding

107,472

112,514

107,997

112,981

Free Cash Flows
(In thousands)

Three months ended
March 31,

Six months ended
March 31,

2026

2025

2026

2025

Net Cash Provided by Operating Activities

$

101,584

$

172,458

$

321,766

$

278,013

Purchases of property and equipment, net (a)

(21,237

)

(15,964

)

(53,476

)

(43,319

)

Free Cash Flow

$

80,347

$

156,494

$

268,290

$

234,694

(a) The amounts under "Purchase of property and equipment, net", include immaterial proceeds from sale of property and equipment for the three and six months ended March 31, 2026 and 2025, respectively.

AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(In thousands)

Three Months Ended March 31, 2026

GAAP

Amortization
of purchased intangible assets and other

Equity based compensation
expense

Changes in certain acquisitions
related liabilities measured at fair value

Restructuring charges

Other

Tax
effect

Non-GAAP

Operating expenses:

Cost of revenue

$

716,733

$

-

$

(11,392

)

$

(135

)

$

-

$

-

$

-

$

705,206

Research and development

87,001

(2,068

)

84,933

Selling, general and administrative

153,677

(24,539

)

866

130,004

Amortization of purchased intangible assets and other

21,308

(21,308

)

-

Restructuring charges

10,405

(10,405

)

-

Total operating expenses

989,124

(21,308

)

(37,999

)

731

(10,405

)

-

-

920,143

Operating income

182,855

21,308

37,999

(731

)

10,405

251,836

Interest and other expense, net

(5,963

)

(7,637

)

(13,600

)

Income taxes

38,120

7,615

45,735

Net income

138,772

21,308

37,999

(731

)

10,405

(7,637

)

(7,615

)

192,501

Net income attributable to noncontrolling interests

957

957

Net income attributable to Amdocs Limited

$

137,815

$

21,308

$

37,999

$

(731

)

$

10,405

$

(7,637

)

$

(7,615

)

$

191,544

Three Months Ended March 31, 2025

GAAP

Amortization
of purchased intangible assets and other

Equity based compensation
expense

Changes in certain acquisitions
related liabilities measured at fair value

Other

Tax
effect

Non-GAAP

Operating expenses:

Cost of revenue

$

698,049

$

-

$

(12,356

)

$

(360

)

$

-

$

-

$

685,333

Research and development

81,796

(2,283

)

79,513

Selling, general and administrative

134,625

(11,014

)

(360

)

123,251

Amortization of purchased intangible assets and other

15,998

(15,998

)

-

Restructuring charges

-

-

Total operating expenses

930,468

(15,998

)

(25,653

)

(720

)

-

-

888,097

Operating income

197,735

15,998

25,653

720

240,106

Interest and other expense, net

(8,465

)

(69

)

(8,534

)

Income taxes

25,269

5,286

30,555

Net income

164,001

15,998

25,653

720

(69

)

(5,286

)

201,017

Net income attributable to noncontrolling interests

758

758

Net income attributable to Amdocs Limited

$

163,243

$

15,998

$

25,653

$

720

$

(69

)

$

(5,286

)

$

200,259

AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(In thousands)

Six Months Ended March 31, 2026

GAAP

Amortization
of purchased intangible assets and other

Equity based
compensation
expense

Changes in certain acquisitions
related liabilities measured at fair value

Restructuring
charges

Other

Tax
effect

Non-GAAP

Operating expenses:

Cost of revenue

$

1,444,456

$

-

$

(22,765

)

$

(494

)

$

-

$

-

$

-

$

1,421,197

Research and development

168,979

(3,927

)

165,052

Selling, general and administrative

267,398

(35,397

)

7,893

239,894

Amortization of purchased intangible assets and other

35,842

(35,842

)

-

Restructuring charges

21,706

(21,706

)

-

Total operating expenses

1,938,381

(35,842

)

(62,089

)

7,399

(21,706

)

-

-

1,826,143

Operating income

389,537

35,842

62,089

(7,399

)

21,706

501,775

Interest and other expense, net

(17,228

)

(6,064

)

(23,292

)

Income taxes

75,083

13,768

88,851

Net income

297,226

35,842

62,089

(7,399

)

21,706

(6,064

)

(13,768

)

389,632

Net income attributable to noncontrolling interests

1,845

1,845

Net income attributable to Amdocs Limited

$

295,381

$

35,842

$

62,089

$

(7,399

)

$

21,706

$

(6,064

)

$

(13,768

)

$

387,787

Six Months Ended March 31, 2025

GAAP

Amortization
of purchased intangible assets and other

Equity based
compensation
expense

Changes in certain acquisitions
related liabilities measured at fair value

Restructuring
charges

Other

Tax
effect

Non-GAAP

Operating expenses:

Cost of revenue

$

1,380,308

$

-

$

(25,606

)

$

(360

)

$

-

$

-

$

-

$

1,354,342

Research and development

166,129

(4,554

)

161,575

Selling, general and administrative

256,712

(22,013

)

12,138

246,837

Amortization of purchased intangible assets and other

31,757

(31,757

)

-

Restructuring charges

6,783

(6,783

)

-

Total operating expenses

1,841,689

(31,757

)

(52,173

)

11,778

(6,783

)

-

-

1,762,754

Operating income

396,569

31,757

52,173

(11,778

)

6,783

475,504

Interest and other expense, net

(14,874

)

5,979

(8,895

)

Income taxes

65,842

10,873

76,715

Net income

315,853

31,757

52,173

(11,778

)

6,783

5,979

(10,873

)

389,894

Net income attributable to noncontrolling interests

1,477

1,477

Net income attributable to Amdocs Limited

$

314,376

$

31,757

$

52,173

$

(11,778

)

$

6,783

$

5,979

$

(10,873

)

$

388,417

AMDOCS LIMITED
Condensed Consolidated Balance Sheets
(In thousands)

As of

March 31,
2026

September 30,
2025

ASSETS

Current assets:

Cash and cash equivalents

$

214,495

$

324,999

Accounts receivable, net, including unbilled

938,182

935,751

Prepaid expenses and other current assets

364,347

331,387

Total current assets

1,517,024

1,592,137

Property and equipment, net

738,836

768,557

Lease assets

179,580

182,088

Goodwill and other intangible assets, net

3,243,895

3,046,962

Other noncurrent assets

684,535

660,086

Total assets

$

6,363,870

$

6,249,830

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities

Accounts payable, accruals and other

$

1,108,842

$

1,201,206

Short-term financing arrangements

250,000

-

Lease liabilities

36,017

38,725

Deferred revenue

152,434

118,861

Total current liabilities

1,547,293

1,358,792

Lease liabilities

134,567

140,776

Long-term debt, net of unamortized debt issuance costs

647,211

646,901

Other noncurrent liabilities

611,376

632,681

Total Amdocs Limited Shareholders' equity

3,382,292

3,429,453

Noncontrolling interests

41,131

41,227

Total equity

3,423,423

3,470,680

Total liabilities and equity

$

6,363,870

$

6,249,830

AMDOCS LIMITED
Consolidated Statements of Cash Flows
(In thousands)

Six months ended
March 31,

2026

2025

Cash Flow from Operating Activities:

Net income

$

297,226

$

315,853

Reconciliation of net income to net cash provided by operating activities:

Depreciation, amortization and impairment

103,747

94,460

Amortization of debt issuance cost

310

300

Equity-based compensation expense

62,089

52,173

Deferred income taxes

24,148

2,296

Loss from short-term interest-bearing investments

-

1,739

Net changes in operating assets and liabilities, net of amounts acquired:

Accounts receivable, net

(46,640

)

33,174

Prepaid expenses and other current assets

(23,114

)

(32,526

)

Other noncurrent assets

18,492

5,141

Lease assets and liabilities, net

(6,408

)

(1,194

)

Accounts payable, accrued expenses and accrued personnel

(90,120

)

(126,700

)

Deferred revenue

23,505

27,846

Income taxes payable, net

(5,003

)

(11,082

)

Other noncurrent liabilities

(36,466

)

(83,467

)

Net cash provided by operating activities

$

321,766

$

278,013

Cash Flow from Investing Activities:

Purchase of property and equipment, net (a)

(53,476

)

(43,319

)

Proceeds from sale of short-term interest-bearing investments

-

92,955

Net cash paid for business and intangible assets acquisitions

(217,663

)

(57,169

)

Net cash from equity investments and other

11,848

16,741

Net cash (used) provided by investing activities

$

(259,291

)

$

9,208

Cash Flow from Financing Activities:

Repurchase of shares

(284,513

)

(279,720

)

Proceeds from employee stock option exercises

3,193

11,422

Payments of dividends

(113,849

)

(107,810

)

Distribution to noncontrolling interests

(1,941

)

(2,209

)

Borrowings under financing arrangements

250,000

-

Payment of contingent consideration and deferred payment of business acquisitions

(25,869

)

(7,599

)

Net cash used in financing activities

$

(172,979

)

$

(385,916

)

Net decrease in cash and cash equivalents

(110,504

)

(98,695

)

Cash and cash equivalents at beginning of period

324,999

346,085

Cash and cash equivalents at end of period

$

214,495

$

247,390

AMDOCS LIMITED
Supplementary Information
(In millions)

Three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

2026

2025

2025

2025

2025

North America

$

754.3

$

764.7

$

762.4

$

745.4

$

738.3

Europe

191.8

181.7

179.8

189.4

180.7

Rest of the World

225.8

209.5

208.0

209.6

209.2

Total Revenue

$

1,172.0

$

1,155.9

$

1,150.2

$

1,144.4

$

1,128.2

Three months ended

March 31,

December 31,

September 30,

June 30,

March 31,

2026

2025

2025

2025

2025

Managed Services Revenue

$

758.7

$

745.9

$

748.3

$

771.5

$

747.1

as of

March 31,

December 31,

September 30,

June 30,

March 31,

2026

2025

2025

2025

2025

12-Month Backlog

$

4,280

$

4,250

$

4,190

$

4,150

$

4,170

SOURCE: Amdocs - IR

The inventory modernization will enhance operational efficiency and accelerate network planning, rollout, and assurance for Vodafone Ireland, ensuring future readiness while aligning with the broader strategic objectives of the Vodafone Group

JERSEY CITY, NJ / ACCESS Newswire / May 13, 2026 / Amdocs (NASDAQ:DOX), a leading provider of software and services for communications and media companies, announced today that Vodafone Ireland has successfully gone live with Amdocs' latest Network Inventory solution as part of its initiative to modernize, harmonize, and evolve its network operations. This collaboration has replaced Vodafone Ireland's legacy system with the latest version of the Amdocs Network Inventory, empowering the Irish service provider to accelerate and automate the planning, deployment, and assurance of its mobile network and drive operational efficiency across the organization.

Amdocs Network Inventory, a cornerstone in enabling agile and autonomous networks, will serve as the foundation for harmonizing Vodafone Ireland's inventory models and processes with those of other Vodafone Group countries across Europe. By standardizing and streamlining systems and best practices, Vodafone Ireland aims to reduce the total cost of ownership, streamline operations, and deliver an enhanced user experience powered by automation, federation, and an intuitive user interface.

Leveraging a proven ‘develop-once-deploy-many' co-designed framework, Amdocs successfully delivered a high-impact project, harmonizing network operations and topology, in alignment with Vodafone Group's strategic network vision. In close collaboration with Vodafone Ireland and Vodafone Group teams, Amdocs modernized the existing inventory platform, executing a complex data migration and cleansing initiative with exceptional speed and precision.

This milestone reflects the strength of the partnership between Amdocs and Vodafone, as well as Amdocs' commitment to driving innovation and operational excellence across Vodafone's global network footprint.

"By moving to Amdocs' modern network inventory solution, we are strengthening our ability to plan, build, and manage our network more efficiently," said Sheila Kavanagh, Chief Network Officer at Vodafone Ireland. "This upgrade not only helps us deliver better service to our customers today, but also ensures we're well-prepared for tomorrow's connectivity demands."

"With service providers worldwide increasingly focused on autonomous networks, we're delighted to continue our collaboration with Vodafone Ireland as they progress through their network transformation journey," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "This go-live marks a key milestone in Vodafone's broader digital evolution, enabling greater automation, faster time to market, and seamless integration across group operations."

Supporting Resources

Learn more about Amdocs Network Inventory, here

Keep up with Amdocs news by visiting the company's website

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About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, and for the first quarter of fiscal 2026 on February 17, 2026.

Media Contacts

Mario Hajiloizi
Amdocs Public Relations
E-mail: [email protected]

SOURCE: Amdocs Management Limited

The agents, built using Google's AI models, enable enterprise-scale deployment of agentic AI across telecom workflows

JERSEY CITY, NJ / ACCESS Newswire / May 13, 2026 / Amdocs (NASDAQ:DOX), a leading provider of software and services to communications and media companies, today announced the availability of Amdocs Telco Agents for Customer Experience in the Google Gemini Enterprise Agent Marketplace, Google Cloud's platform for building and deploying enterprise-grade AI agents.

These agents are now featured as part of Google Cloud's partner-built agents ecosystem in Gemini Enterprise, as announced at Google Cloud Next 2026, underscoring Amdocs' role in shaping the next wave of enterprise AI innovation. Built on Google Cloud's Gemini Enterprise platform, Amdocs Telco Agents for Customer Experience enable communications service providers (CSPs) to automate key customer-facing and operational processes, including customer care interactions, service request handling, issue resolution, and order orchestration.

The agents can reason, orchestrate, and execute end‑to‑end telco processes, improving resolution speed, cost efficiency, and customer satisfaction across digital and contact center channels. Built on aOS, Amdocs' agentic operating system for telcos, the solution combines Amdocs' Cognitive Core with Gemini Enterprise for CX to coordinate workflows across existing BSS/OSS systems and AI ecosystems. As the intelligence layer within aOS, Amdocs Cognitive Core applies telco-specific reasoning and governance to support scalable AI deployment within live telecom operations.

"Enterprise customers need AI solutions that are not only powerful but also secure, scalable, and easy to deploy," said Satish Thomas, Vice President, Applied AI & Platform Ecosystem, Google Cloud. "This collaboration brings together Google Cloud's cutting-edge AI capabilities with Amdocs' proven industry expertise, offering communications service providers an accelerated path to deploying agentic AI at scale."

"We're thrilled to be among a strategic group of companies globally to publish agents on Gemini Enterprise. This reinforces our agentic AI strategy to help CSPs move beyond traditional AI assistants toward autonomous systems that can execute complex service workflows end-to-end," said Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs. "By combining Amdocs' telecom expertise with Google Cloud's AI, these agents reduce handling time, improve first call resolution, and enable proactive issue prevention, while maintaining enterprise-grade trust, governance, and security."

Supporting Resources

Read more about aOS, here

Keep up with Amdocs news by visiting the company's website

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About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ: DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, and for the first quarter of fiscal 2026 on February 17, 2026.

Media Contacts

Swati Sharma
Amdocs Public Relations
E-mail: [email protected]

SOURCE: Amdocs Management Limited

Supporting 12,000 transactions per second across three active cloud regions, the Amdocs Entitlement Server sets a new benchmark on Microsoft Azure for performance, reliability, and availability needed by large telecom operators to confidently launch and sustain eSIM services at scale

JERSEY CITY, NJ / ACCESS Newswire / May 13, 2026 / Amdocs (NASDAQ:DOX), a leading provider of software and services for communications and media companies, today announced that its Entitlement Server, the core of the Amdocs eSIM Cloud, has achieved a sustained 12,000 Transactions Per Second (TPS) across three geographically distributed Microsoft Azure regions in a production-grade, active-active deployment. This milestone represents one of the highest publicly benchmarked throughput levels for a carrier-grade entitlement server.

Achieved in collaboration with Microsoft and aligned with Azure's Well-Architected Framework, the benchmark demonstrates the platform's ability to deliver sub-second latency, continuous availability, and resilience at scale, even during peak demand events such as device launches, mass eSIM activations, and nationwide Rich Communication Services (RCS) rollouts.

As the entitlement server evolves into a strategic control point between devices, networks, and digital services, performance and resilience have become critical differentiators. Industry recognition reflects this shift, with Counterpoint Research naming Amdocs the #1 Pacesetter in both the 2025 Entitlement Server and eSIM Orchestration rankings.

This benchmark highlights a new standard for evaluating entitlement platforms: sustained throughput and multi-region resilience under real production load. As eSIM adoption accelerates across smartphones, wearables, vehicles, and IoT, operators require platforms that can scale to billions of transactions without compromise.

Built as a cloud-based software platform (SaaS), the Amdocs Entitlement Server is designed to deliver the scale and reliability required by large telecom operators. Its modular architecture and automated cloud management enable it to scale on demand, introduce updates without service interruptions, and quickly launch new services. The platform supports the full range of entitlement capabilities - from eSIM activation and device pairing to advanced messaging (RCS), voice services over LTE and Wi-Fi (VoLTE/VoWiFi), 5G network capabilities, and emerging satellite connectivity - all within a single, proven platform used by operators worldwide. The Entitlement Server leverages the latest technology from the Amdocs aOS Cognitive Core, ensuring efficient scale and seamless operations.

Key benchmark highlights include:

Active-active deployment across three Azure regions, helping to ensure continuous service with no failover disruption

99.999% availability, meeting Tier-1 operator requirements for mission-critical services

Validation against Azure's Well-Architected Framework for reliability, security, and performance

"This achievement reinforces our commitment to delivering proven, carrier-grade platforms for the world's largest operators," said Anthony Goonetilleke, Group President of Technology and Head of Strategy, Amdocs. "The Entitlement Server brings the same cloud-native and AI-enabled foundations that span our portfolio, capitalizing on Amdocs aOS and Cognitive Core capabilities. "Together with Microsoft, we are enabling service providers to scale confidently and support the next wave of digital services."

"This benchmark demonstrates what becomes possible when carrier-grade telecom workloads are architected for the hyperscale cloud from the ground up," said Igal Figlin, Corporate Vice President - Azure Compute at Microsoft. "By engineering the Amdocs Entitlement Server to the standards of our Well-Architected Framework across three active Azure regions, we've proven that the most demanding telco operations can run with the same resilience and elasticity that the world's largest digital enterprises expect."

Supporting Resources

Learn more about Amdocs eSIM on Microsoft Marketplace, here

Keep up with Amdocs news by visiting the company's website

Follow us on X, Facebook, LinkedIn, and YouTube

About Amdocs

Amdocs helps the world's leading communications and media companies deliver exceptional customer experiences through reliable, efficient, and secure operations at scale. We provide software products and services that embed intelligence into how work runs across business, IT, and network domains - delivering measurable outcomes in customer experience, network performance, cloud modernization, and revenue growth. With our talented people, and more than 40 years of experience running mission-critical systems around the globe, Amdocs runs billions of transactions daily. Our technology is relied on every day, connecting people worldwide and advancing a more inclusive, connected world. Together, we help those who shape the future to make it amazing. Amdocs is listed on the NASDAQ Global Select Market (NASDAQ:DOX) and reported revenue of $4.53 billion in fiscal 2025. For more information, visit www.amdocs.com.

Amdocs' Forward-Looking Statement

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters and years. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general macroeconomic conditions, prevailing level of macroeconomic, business and operational uncertainty, including as a result of geopolitical events or other regional events or pandemics, changes to trade policies including tariffs and trade restrictions, as well as the current inflationary environment, and the effects of these conditions on the Company's customers' businesses and levels of business activity, including the effect of the current economic uncertainty and industry pressure on the spending decisions of the Company's customers. Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, security incidents, including breaches and cyberattacks to our systems and networks and those of our partners or customers, potential loss of a major customer, our ability to develop long-term relationships with our customers, our ability to successfully and effectively implement artificial intelligence and Generative AI in the Company's offerings and operations, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, Amdocs specifically disclaims any obligation to do so. These and other risks are discussed at greater length in Amdocs' filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2025, filed on December 15, 2025, and for the first quarter of fiscal 2026 on February 17, 2026.

Media Contacts

Mario Hajiloizi
Amdocs Public Relations
E-mail: [email protected]

SOURCE: Amdocs Management Limited

Amdocs (DOX - Free Report) came out with quarterly earnings of $1.78 per share, beating the Zacks Consensus Estimate of $1.77 per share. This compares to earnings of $1.78 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +0.85%. A quarter ago, it was expected that this provider of computer systems integration would post earnings of $1.75 per share when it actually produced earnings of $1.81, delivering a surprise of +3.43%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Amdocs, which belongs to the Zacks Computers - IT Services industry, posted revenues of $1.17 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.44%. This compares to year-ago revenues of $1.13 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Amdocs shares have lost about 22.6% since the beginning of the year versus the S&P 500's gain of 8.1%.

What's Next for Amdocs?While Amdocs has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Amdocs was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.88 on $1.18 billion in revenues for the coming quarter and $7.44 on $4.7 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Computers - IT Services is currently in the bottom 43% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Endava PLC Sponsored ADR (DAVA - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 21.

This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -37.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Endava PLC Sponsored ADR's revenues are expected to be $249.69 million, up 1.8% from the year-ago quarter.

Amdocs Limited (DOX) Q2 2026 Earnings Call Transcript