AudioCodes Ltd. (AUDC), a provider of communication software, products, and services, on Tuesday reported higher net income for first quarter, with a slight growth in its revenues.
For the first quarter, net income increased to $4.02 million from $2.09 million in the previous year's quarter. Earnings per share were $0.13 versus $0.07 in the prior year. On an adjusted basis, net income decreased to $4.70 million from $5.22 million in the previous year's quarter. On the same basis, earnings per share slid to $0.15 from $0.17 last year.
Three analysts, on average, had expected the company to report $0.18 per share. Analysts' estimates typically exclude special items.
EBITDA climbed to $4.6 million from $3.8 million, while adjusted EBITDA decreased to $6.2 million from $6.7 million in the prior year.
Revenue for the first quarter edged up by 0.5 percent to $60.37 million from $60.08 million last year.
Looking ahead, the company said, it further expects growth of AI-powered value-added services to be enhanced in the second half of 2025 by the impending launch of our unique next-generation Live platform, which integrates connectivity solutions supporting the UCaaS vendor solutions with the business applications.
Monday, AudioCodes had closed 1.90% lesser at $9.28 on the Nasdaq.
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