Amdocs Limited Reports Second Quarter Fiscal 2026 Results

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.