Amdocs Limited (DOX) 10 May 232023 Q2 Earnings call transcript

Good day and thank you for standing by. Welcome to 2023 Amdocs Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, that today's conference is being recorded.

hand Head over Amdocs. of to today your like Smith, Matt Investor now the to conference speaker I'd Relations for go ahead. Please

Thank you, operator.

financial our will and that described GAAP. filings, some that I your prepared our including comments information X begin, as to be of discuss to the disclaimer forward-looking and in risks may to uncertainties, statements of notes we SEC slide subject not statement that in with It Before presentation. certain Amdocs’ today we on are need is attention accordance call and

For including SEC will the more information regarding also you our we which use with of furnished on non-GAAP Form reconciliations financial these to measures, be release, X-K. of today's earnings refer measures,

President Tamar Executive Limited Participating Amdocs Management Chief of Rapaport-Dagim, and Chief Officer. on with Shuky the call and Officer and me Financial Operating today Sheffer, are

providing earnings will agenda, the as which Investor second this which on the today’s will section Shuky will of are To on achievements executing our and on XXXX quarter update continued financial call. Tamar details our outlook for framework. and and for quarter will financial conclusion of will support our made prepared performance year our second we financial after be progress we provide finish fiscal copy the and, a have immediately against you XXXX, business today’s growth fiscal strategic forward commenting our guidance. the Shuky On following found be by a full posted on the today’s Relations presentation website, of call recap can also always, remarks additional

it turn that, with I'll to over Shuky. And

services the we improved the performance of global to I communications providers potential consumer and everyone Thanks, our pleased to our intelligence, the software, to today. need service Matt, call experience deliver as networks, strategy second BXB. and customer data-driven the cloud-based am fiscal next-generation, and for and joining unlock us XG that with broadband afternoon on quarter and progressed good

agreement we logos, deepened in relationships expanded partnership expanded with our signed strategic a successful our new bringing existing managed execution launched of OSS innovation and most and across a advanced and Suite our customer CESXX, footprint network enhance Experience rate our sustained delivered strategy, an Customer M&A quarter of the fresh our on with sharpening four quarter network our deployments, the This domain. BXB high record to yet, BSS, focus services, customers while added Microsoft, project

say amazing and the would achievements over spirit These I would the demonstrating be their drive to to consistent the quarterly while of execution whom without like possible thanks to collaborative passion, forward agility, vision talented Amdocs for people, not our necessary strategic long-term. also

currency. was Reviewing billion up on constant Record slide guidance X. the financial above year-over-year revenue highlights in $X.XX the midpoint and X.X% of of

with non-GAAP constant share a improvement bottom-line, free diluted margin On in from ago X% generation consistent the year was was $X.XX roughly of backlog cash midpoint earnings and strong of $X.XX a we the in guidance as quarter. per currency up XX-month ongoing the billion, record-high flow delivered

delivered we significant Europe, is slide QX have we as sales operational TMobile Amdocs. which continued activity included modernization Turning to before significant Deal digital region in in at potential strong X, a the USA. highlights a was said on of for which new momentum award growth

by share new several two at Our digital modernization Europe significant fruit, record of and and including in are market this quarter. deals, increase multi-year award bearing to reflected the investments revenue diversify logos as programs

Europe. expanded quarter, new such and with and the operator announced present in revenue cloud also as major Similarly, which a attractive Globe, opportunities newly today Philippines. Managed engagement the Philippines, western record also a Rest PLDT World had Amdocs, the of with second in for in continues services to agreements included great

to streaming with the Virgin provider media, In services, agreement expands a decade-long a new signing Amdocs demonstrated world’s Vubiquity UK. which relationship as leading Media trusted continued its growth

chose America, digital Preferred Vubiquity, new selected a is and communications Juice, Vubiquity to Fulfillment operator part Program. the Amazon bring broader Video’s Latin while Additionally, a content was satellite in which Vendor as to Spanish of Prime Fulfillment Hispasat, logo, under Argentina its and Vendor customers

service successful an From a many high rate maintained the we perspective, execution achieving world’s deployments at of major of in QX, project milestones largest providers.

running cloud an with offering, delivering under on digital For the in platform select native technology and “Internet fixed simplification we customer. which BSSe access instance, the program Amdocs AT&T’s role the wireless this important markets, Air”, of new recent in launch are played is modernization

strategic several profile. took position long-term market-leading also and our we quarter, steps to growth strengthen This

First, a suite create with we the compelling to Care market-leading bring Engagement Microsoft expanded Amdocs’ and offering Customer AI-powered which what our strategic in to portfolio is new most believe market. Commerce we partnership Platform Cloud telco-specific with the combines Microsoft

encouraging joint have bring can Microsoft worldwide, of signs expanding pipeline interest and customer begun to Amdocs both and this providers to consumer strategy go-tomarket opportunity already report BXB. and we execute to of in a service and already platform

Second, we growth CESXX demands on of developed complex of BXB customers. their includes capabilities launch service with the enhanced the which focus to of potential increasingly sharpened specifically help our the BXB providers meet

Third, we million to our delighted are service today assurance business $XX TEOCO intention cash. of to for the acquire announce approximately

end-to-end providing already move of a and service experiences. and this our the by enhance next-generation Amdocs of delivery quality orchestration with assuring network we TEOCO execution automation strategy to service expect opportunities, unique the service enabling providers of and offering, customer some the partner on

digital transforming as Launch create networks. update consumer innovation monetize and and me XG connected new with experiences for experiences progress automated BXB. real-time, on the we the market-leading operations service strategic let to and continued Now, designed services, delivering help our dynamic IT cloud, Accelerate to by providers. deliver you seamless journey

customer service of improved it as on cloud fully over the benefits and that they the of security related, cloud for cloud number deals gradual the happy with growing the be strategies. primary in Starting a see still more Amdocs’ are as X, to service support Amdocs and journey system their several a cloud, Slide innovation, years potential expected partner scalability, that value core new and experience. of more operators share are most to providers will early maximizing realize technology of before I’m agility, such and stages

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Smart, Amdocs and migrate to accelerate PLDT multi-year cloud strategic will of cloud with report to comprehensive the hybrid delighted wireless cloud are journey. to am Smart's and PLDT partnership a IT I cloud that and developing systems rest bringing applications while infrastructure of our efficiently integrating business-critical with their the Amdocs By also cloud-based leverage to services, infrastructure. subsidiary, its applications suite

Among to in these our to respect to on momentum systems. other reflects services its unique a European was the applications the migrate deal core journey recent multiple forward cloud. continue other supporting cloud support market’s of their their believe to Western major and as we such European for and relationship look critical and customers selected affiliates recognition growing wins, expanded cloud central provider Tier cloud-domain the non-Amdocs in cloud BSS enable We with journeys by they and X for countries, expertise, operate Amdocs our managed a applications multi-year we operator to and

BXB & suite, insightful where our role in am and together experiences customers. Moving and path for I Care improve and channels will digital T-Mobile’s Commerce XX, Monetization consumer for providers that at a transformation suite, expanded to across slide BXB experience consumer modernization service Amdocs down revenue, and to with continue Amdocs we T-Mobile report delighted all grow digital of reduce transparent subscribers. power cost to

was to new retention a multiple strategic, that operator harmonized, service media digital its modernize major also chose enable transformation across second selected Amdocs bolster wide-ranging customer to a will its Eastern while drive experience infrastructure and project social loyalty deploy platform and channels European Eastern and customer and a create frictionless provider a customer designed a presence, touchpoints. engagement in IT by to Amdocs European

We to and the York exclusive YES’ are customer for experience YES with New regional television also Nets, platform. premium Yankees the a the Network, streaming collaborating Brooklyn provide direct-to-consumer home of

another from shift SIM creating theme to physical software-based is opportunities cards digital for The Amdocs.

in Our Norway customers eSIM by cloud-based one Amdocs analyst number Counterpoint was firm, Austria. the of eSIM ICE recognizing Research, ranked recently market as awards orchestration platform with and Drei list independent growing following our recent

including continue invest market to standalone slide XG solutions, monetization, generation policy service in the future Turning to charging XX, networks. unlock XG potential and next of providers to global

of AWS prepaid recently leading Amdocs deployed network One America’s support of North to providers subscribers. millions Policy solution on service

completed just WindTre, for Another the large stack a XGready cloud. to proof, a project a on operator, is Amdocs future provide Italian monetization which modernization mobile deployed great example

control This operator’s customers. monetize both quarter, XG for selected policy innovative digital Telekom by Magyar program, IoT-based enterprise Amdocs function to further Melita the a also the operator was with Limited in successfully consumer transformation provide new Hungary that completed we the XG and enable will project Malta-based in and services and SA to

enable slicing, Turning productize XG its use is to customers. is individual to with automated services first or tailored XG Bell the needed Canada Amdocs rapid an BXB of to successfully Amdocs network slice to network helped introduction for solution. recently automation on mobile which consumer differentiated helping network XX, operators slide deploy case

powers innovation to help announce service with digital are they XD survey rethink developed demand, Demonstrating in with our to safely deploying carbon twin automatically manage solution reducing that when network tower-climbing to a its Working vHive, create Amdocs the of network to footprint. fresh today Amdocs which solution we wireless has infrastructure a quickly Verizon which they than their much towers, inspect providers is market flights bringing teams excited early more assets. and partner site. also selected network towers, while trucks also to has ways maintain a drone autonomous our and need

on our Now, XX. moving presented slide year fiscal outlook, as to XXXX

not As and we we are economic closely repeatedly of globally the last few the dynamics. to the operating current during have period shifting market customers said our are immune environment Amdocs quarters, and rapidly overall monitoring uncertainty, over

key enabler around Amdocs centered a a investment the trusted communications cloud. technology-driven partner As industry, cycle and major modernization, we at trends believe global the technology XG, multi-year, and of positioned digital long-term heart automation, the to network of is

model, consideration, business recurring unique full with We previous our currency, our from XXXX compared which we as produces customer engagements. also range constant the critical streams revenue of Taking everything a which are support to unchanged within we under in is systems long-term visible, mission year X% revenue of outlook outlook. X% fiscal the midpoint our believe reiterating tighter growth highly into

from already we On outlook fiscal prior roughly recall XX% XXXX, per share growth quarter raised running, dividend the target our earnings as to the yield. returns shareholder full for third our we bottom-line, non-GAAP for initial expected total in XX%. X% well diluted of we our Accordingly, to to are in you which double-digit growth are of year on-track reiterating year X% deliver the may including

turn With me for that, her remarks. the over let to call Tamar

I X.X% and billion the in us. $X from revenue year-over-year on of midpoint guidance and of financial fiscal compared impact see report slide basis, highlights for Thank movements X.X% XX. joining Thank everyone. a $X.XXX of positive was approximately constant reported including was approximately to our guidance, you currency. the which foreign am for hello above happy quarter, revenue currency you, On million assumptions. up a slightly QX can to increased second Shuky, you the solid of results Record

where, as On to In basis, report execute also across impact are project World in delighted a on for customer QX, are to to quarter our projects the delivered growth regional the as record where customers activity. seeing I positive Rest by transformation new accelerated awarded last we on continuing sequential the region. quarters projects Similarly, driven basis multiple Europe, anticipated, we of am several quarter, we a America double-digit North continue best-ever over broader ramp-up. another in of

realize automation down income year costs basis up up and the business. drive as implemented margin to benefits ago was tools efficiency we sequentially sophisticated a basis XX manage Moving the statement, our to XX and points QX, of from operating points our gains XX.X% in in and non-GAAP other continued

of XX%. our midpoint which effective the of On was and EPS was our as annual with for guidance a range rate included range diluted the non-GAAP non-GAAP second within quarter, EPS $X.XX. to XX.X%, $X.XX range, XX% $X.XX to GAAP above fiscal of anticipated which target the bottom-line, of the Diluted $X.XX guidance of was consistent tax of was our midpoint

non-controlling line for and and net a For our This item interests. for respect acquired the will in the to new attributable attributable this new GAAP XXXX your $X.X that to joint fiscal Park our quarter includes roughly the net as site modelling income purposes, per partner amount venture operational. now year to land quarterly and earnings reflects beginning million Amdocs campus non-GAAP complete income in we the is the to

X.X% XX, up X% to Moving XX-month up XX-month slide reported, sequential On QX. year-over-year constant was backlog by basis, in was $XX backlog currency. roughly billion, as record-high and our in $X.XX up million a a

backlog as served has good indicator a consistently XX-month of our revenue business, XX-month averaged the years. traditionally around forward-looking leading of over XX% Our having

million Turning business in revenue about from under transformation cloud QX, services by Globe, will revenue. business the partnership the Philippines, enable value a multi-year enabled and up XX% operations, experience to company a year of adaptation, a slide X.X% total ago managed that to digital equivalent extended move has with better alignment a in through Amdocs provider customer solutions XX, it's This record result $XXX was growth to arrangement. for IT will to their create revenue reimagine digital improved greater to services managed & leading

with engagements signed include may To remind migrate operate deepen underpin our relationships and Additionally, non-Amdocs agreement recurring under activities applications streams, services our sometimes managed the Shuky modernization further. expanded our operator earlier. Western which major and business an even resiliency expanded cloud, the you, projects European with XXX% engagements as services multi-year managed highlighted to a near renewal and rates of on revenue we

and I days sheet XX. am strong cash in to resulting production DSOs year-over-year and quarter, on and invoicing we XX slide while and flow Reflecting days Now, QX, days highlights of decreased unbilled deferred by that report execution, difference in sequentially collections. turning revenue many to by pleased milestones this achieved healthy balance the the customer seven of net cash XX

million $XXX sequentially. receivables by improved

net typically was cash occur flow quarter. $XXX bonus less million Similarly, annual flow and we $XX generated of in of of free flow of seasonal comprised Free million the operations in cash which robust million, timing the expenditures, cash was despite strong $XXX fiscal in from QX. second approximately payments capital

Overall, cash. which and we with liquidity including aggregate of strategic roughly billion, the of $X.X complete sheet ample million. the service a borrowings planned QX business a we ongoing $XXX of assurance cash we support balance balance for needs to including roughly approximately ended million acquisition $XX growth, to TEOCO’s healthy capacity Moreover, while strong retaining our fund have to business, expect

respect roughly capital allocation fiscal repurchased free to we current of year on in XXX% million. income This outlook cash equates the cash Slide free paid $XXX are relative to million dividends Turning net shares yield of Amdocs’ XX, rate million. of XXXX, to full than more X% flow roughly assumes healthy our the our of and In second quarter cash a we reiterating non-GAAP $XXX and to flow of market relative capitalization to a conversion $XX

our and shareholders by free programs. of the share quarterly expect of repurchases majority our Regarding dividend year we flow return payment cash way our XXXX, fiscal in capital allocations to to

today, To predict the fiscal scenarios. information XXXX guidance have and based cannot uncertainty, what our XX. to to macroeconomic, Thus, prevailing all the likely closely third on continuing on we we current turning to outlook remains the quarter elevated outcomes we year business, begin, Now, which be the reflects we possible full the but environment. financial most consider in and business are of level monitor operational slide

with prior X% XXXX within range which Taking half, our into as to quarters, of two consideration our to of full revenue XX%. fiscal the our performance in first X% are and unchanged outlook X% constant midpoint currency, our outlook is a compared the reiterating X% of growth tighter we the in for to year visibility second

X% we assumption. On anticipates foreign of to unchanged year a which outlook X% reported growth X% full basis, approximately X% expect previously. X% revenue year-over-year as now to previous our year-over-year, an with new impact of is currency with compared year-over-year, compared unfavorable The

quarter to revenue fiscal includes billion. a $X.XXX outlook of annual range Our third $X.XXX within billion

an total service the to is X.X% assurance annualized fiscal to acquisition after from XXXX contribution in expected assumes roughly revenue revenue On outlook this full our year immaterial first an TEOCO’s closing. add Additionally, business. basis,

quarterly range hedging to million anticipate our line, annual income cost fluctuations non-GAAP currency operating and we quarterly non-GAAP the line margins foreign Below few we of interest expense other dollars around basis. will a anticipate of continue down the the on Moving of the fluctuate of target to XX.X% operating that a and statement, XX.X%. to our impact midpoint net range in

that tax range effective our non-GAAP the fiscal initial expect we we to diluted remain reiterating everything together, per Shuky reminded outlook of to non-GAAP X% full XX% annual XXXX, in from for XX% the you full unchanged XXXX. rate growth of X% year We are earnings within XX%. quarter our raised year will which already our fiscal in Bringing XX% for to of an year growth full prior range for share target the the as target

Overall, are XXXX, deliver for roughly our dividend in non-GAAP fiscal of our sum assuming year expected the and running expected on-track total we the growth X%. returns third shareholder double-digit to yield of EPS

it divide Amdocs its healthcare on areas we stage. to like used help their such goals Congress quick year’s to by the to to World closing ESG an consumers Barcelona back services, customers rural Shuky, digital an connecting to and to sustainable showcase is development our technology Amdocs map how on digital I’d using our education, experience global We this opportunity first-ever is to and employment. immersive commitment to take Amdocs demonstrate in how Mobile passing interactive achieve Before a ESG and the as published comment for was which in to moment show

donated partnership booth. to and connectivity their India inclusion digital internet to approximately with in successful our XX every by families which pleased girls Amdocs’ Unconnected.org, for visitor days also we am X,XXX I through

Break via Women’s with campaign Bias million and donation recovery to with our recent drive, – matching, Turkey. partnered XX employee Day ESG Unicef campaign in company on exposures other social media, raise $XXX,XXX initiatives, Among to generated the an we roughly earthquake support International

opened Amdocs Finally, work per worldwide commitment for from am their the energy fosters employees exceptional from among amazing environment we I new employees global seeing even-greater back an are which our work growth, office to minimum implementation policy already This office; by create our an you making to of heartened am reflects campus the Park the to of a Thank that by week. which move such are innovation. collaboration, required days a benefits our experiencing to the all new employees the Amdocs levels since place moving and to I including recently. work. three

With that, back you, to Shuky

Thank you, Tamar.

of As our remarks year, financial solid you fiscal uncertain, focused acutely we profitable remains are our the a with from and pleased the and can probably macroeconomic at point we half another industry operational and position year while midway today, our steady growth. and on second strong and environment tell are in delivering global

that, With questions. happy we Operator? are your take to

Bank question our Tal [Operator instructions] from America. And come first will Liani of of

is line open. Your

Tal. Hey guys, this is on for [indiscernible]

two for me. ones quick So

some and slowdown including despite quarter talked bit service spending some you're the spending first last the We've environment in keep about positioned you segment? this why you networking vendors and talk weakness wins that little So a from T-Mobile. to disappearance in solid providers. and business service heard provider winning quarter about Can about

this Shuky. to Send Hi, Good Sure. my is Tal. evening. regards

in to today, the cloud transformation consumer, pillar digital customers. we XG are organization. our talk strategy to would and argue part The about focus think BXB all journey that strategic the we which it’s areas a of I is that and our extremely these deployment

that the what really our strategies environment, we of for carefully and obviously is strategic believe do customer their we domain. heart while So the we the forward pushing watch them

facing. and mitigate the running always, is by that system of that to said, some of do I Amdocs mission think the that I heart us that we the fact immune, are their strategy but we as our in of don't project most So customers the critical are are help headwind

still as color a can quickly, you. driving if growth? in What up revenue that see that, around Got of a Thank result tightening you fiscal do the just growth is more 'XX? the sneak can X% constant I it. and follow a in little you currency And exactly of give

that felt we the be looking through the as both XX the with we we of for contribution what tighter one making kind As we in already the possible and is it's more make representing is X% the concurrency a the moving backlog keeping, halfway python half of months the course the revenue that obviously outcomes find year should well and the likely the looking forward -- over midpoint next of strong to very are range terms of strong, it as that of well tracking terms unchanged. sense of clear growth and thing in growth we the what

terms talked currency Now revenue growth, revenue difference reported prior in the already headwind this maintaining in constant we're and we of the that X% the about between growth quarter. the

you Thank it. both. Got

Shirvaikar And Citi. our will of next question Ashwin come from

is Your Hey open. line

sort automation just Hey. with evening things I all of earnings like or out Good signing of but macro. and is I look folks. guys your type called productivity last nowadays wins, immune. wanted, for obviously towards sort not the How client that, cloud call but Say more well you I But things. you not when would've are across as every on time, topic And regards maybe, time network are and clients optimization, that example, board. the of big have the expected this to you? kind actually decisioning move you're perhaps at cost to

from out you making to the with ramp time, like see perspective contract can engaging there time, sort client a is of that difference call that you as as Is they're with that any concerned, your decision how far portfolio you, regards anything terms,

different change. see Hi, think Ashwin. I Shuky, don't It's we

deal recognition is say is true. The but that I deals reduction is maybe this more that a always say, very times, in same. yes, the of, of much TCR I would rich cycle pipeline some pretty and bit would the in think are than getting I regular

includes a obviously it Now moving very cloud. large manage the say, services very large to Western deal operator, in a

obviously [ph] is is reduction environment, TCR agility, benefit business part it. security of higher and the So,

reduction mentioned, in a quarter the solid TCR will that I strategy. have not So, say call nice the most of parametal dealers we very every is you in sales

think will not we I think can many part it as that of deal. this an it's the the So our I the do that is additional highlight, but is number is in more getting as the reason in TCR is, critical number one The which deals their because bring to to we is I way a able don't reduction reason deliver reflected not one that I in this journey. say think are to value I think services deal. product to our customer value of

to to R&D enjoy One, customers can we new can that they shop thing the the benefit fast a add continuously fast our to what our given maybe in of productions technology customers very is continuous a manner, products in pace, very deliver the to environment. their in way architecture from production our enjoy

which used to past, So, what environment it is than compelling fast different a in creation like see where this think their it's be very would the also but faster move the space in to returns I in investments. customers to value very

definitely Just reduce top to think the a of all our great the for on our and that opportunity automation to introduce I we it, also level creates services, in product add of cost. customer

wage obviously, again lower inflation, the side that. kind supply a regards to of to things With of we've environment the is easier. like little Understood. attrition, things that seen, related Lower is bit the one talent, becoming

it areas inclination your, observing If you headcount could to and guess, of you if what I that. on kind how drives comment sort on comment in could particular you're increase

So engagement I resignation the focus I has on way terms the think the and also change era, the in environment, a resignation that begun great great think in is making of clearly before market, sure we of but, continue employee see era. labor we high

have things a We focused And many on it the key the sure can assets optimization on that and yes, down, to we people best not just going continue are talent them move It's slogan expression focused internally. most very the on making that engagement we ease up voluntary that see we of onboard has talent clearly, doing. hire key high do competition has company. effective but people the they are upskilling to and in as focus way, talent the yes, a in

elevate of that an in years things and we I analytics, the new all talking to that of whether is of about this about continue and is that are of talking but are seeing opportunity And whether that's today that all course the the clearly any the it supply couple also it's experience skills or required. another those is we've happening those continue, about are required cloud agenda. or we're been talking and think skills last doing is, our continues this is it whatever And we're should point clearly design that time, data on

ago. comparing bottom to be used year Yeah. But the label what line, the as Tamar completely place different probably said, environment is it in

back. me another might question. come let later hand back on it me I let Absolutely. for

next from of come And our Timothy [Operator Oppenheimer. instructions] will Horan question

Your line is open.

This Hi another Yang clean actually Shuky. Hi is for Edward on Tim. quarter. Tamar. Congratulations

was back down and, like what that driving backlog It's come that what ago. on get growth year question X%. that would XX% up? pick to it first has about my a Just What's at moderated would, somewhat,

X.X% clarify basis mentioned the reason talking a on just mathematically So but on shouldn't the as back a some for of we is the indicator, year-over-year a And we've as on kind why think constant number, reported back take always I basis, leading good currency X%. it quarter. growth the and indeed we're of

then $XX ago $XXX quarters quarter, seen $XX. again, sequentially million, this up it two was you've example, For

not clock. something moving consistently is So like it's Swiss that a necessarily

strong. I think the trajectory most very important thing is the is

important sign deals. We continuing are to

actually the It's we today XX beyond months next announced the fuel revenue. of the XX deals going factored months are to Some backlog. much into not

new revenue only full major time the mainly and to set extension services metal European impacting leading carrier run West with get deal of take For example, migration will the rate cloud XXXX. It'll up. to the

we see great. of the this beyond months. kind definitely it's So, visibility XX next phenomena, us but It's giving

how tracking, all and So fulfil we we're and backlog the to soon, momentum. our looking see pipeline pipeline course, time, our we and of great the forward this are

at sensitive where, good color. changing And just more been adds the this phone change? X/X versus wireless adds composition Does the year. of margin? last -- you like affect Industry net that, that shift down within somewhat Are telcos subs share looking about cable coming market That's volume mix mid-single industry. versus the grabbing has U.S. are Okay. year-over-year, quarter, we that the much postpaid and MVNOs digits. your saw more subs And half revenue to grabbing

interesting are not but of our -- growing connected brought there to the if correlation this. revenue. between see a to faster, we First we see so all is net that to customer But you want guys adds no it, wireless our we phenomena Obviously, happy, -- Comcast, the platform are their we Charter, are of our we talking by very announced way, that are all behind as them the the very that before, using we mobile are cable for about offering.

are are new opposite, also the a air customers. launched guys the product fixed T-Mobile, the then AT&T this wireless which platform to first happy actually, Internet By are about big talking wireless offering. other way, AT&T we some on quarter. fixed their very And in our also, and wireless, support in They

the important which working I on and T-Mobile direction. for would connection, very very are quarter, for a T-Mobile no future We with tell say, you So customer strategic, there in their busy I that is we mentioned can critical direct growth. this deal is our

the way very our supporting are customers. in happy we are we So

question in. could just one And squeeze if more I

competitors? announced motion partnership on Congress, I customers? how during expansion World customer the an Or has strategic And -- logos you this displacing what Microsoft bringing or engagement. of but is on that been new existing Mobile with the selling you know Just product? more are for that the into AI

It's very about we and both, partnership. this are excited

offering strong best Microsoft, as part obviously, full [indiscernible] pretty in script, all integrating unique this combination cloud-based I mentioned, dynamic of with we market-leading what other creates my the Amdocs the suite the offering, believe think generative a we application, I far, in for application by it is, of and this, market. the mentioned monetization much AI as of aspects, CES fulfillment very integrating

sure logos -- was very, for leading expansion nice think Amdocs to like very very, very, In I months both in to talking We BXB. are suite we I potential mature consumer a closely working -- these for We about It's pipeline, a Microsoft. and far, Microsoft see growth to some relatively together, we, this its Microsoft. Now the together existing joint and we to for old. able bottom we deals. very going customer. new. and line, by working with say, But I are cases, some that new are mean close potential In make really are with X completely give with deal, see very very the us would offering cases, this

a And follow-up our Shirvaikar next is from Ashwin question of Citi.

this a more is was important understand of AI the way of at of it, is look I there the the embedded about want and your ask use solutions topic. in to it? Is investors to follow-up And part be integrated CESXX noise lot conversation AI The an topic, AI obviously times the AI, of that Because of to a topic approach for call. right variety But on it you way seems couple -- I way a mentioned of product-related. with obviously. that to is important this the and a course functions.

lay out could [indiscernible]. you sort if of So

question, this for you Thank Ashwin.

we the we're evaluating opportunities. see external. internal of going all, this now, of call generative with which accelerating and right AI are and us It's now potential for we this integrating lot are and [indiscernible] we a building very AI happy closer it's And right First see and generative while partnership are both with we customer Microsoft, capabilities. -- Microsoft, all very to definitely, gets -- platform We capabilities generative what the we the to actually capabilities. AI options

a to generate give cases large very to opportunities say, Internal, the can test of examples. and couple we see automatic business. I using our testing,

So other more. cause this in this we is many we places, and example more see, use need believe to we is a area conversion, many when one like are some to we And do looking. I cost these that there internal. going are capabilities so cases,

looking actually our to together much application to we this do [indiscernible] platform, we we using partnership better elevate can Externally, more, to with capability. and of internally, can we're consumer with how already and type BXB talk see how and monetization self-service Microsoft, offering about

together company capabilities a said, it's huge. be believe tell days. and gets And development are attention. these our to the think elevating that, going partnership that I I can And a there we probably great in teams Microsoft definitely, others. the are a that couple This I in like capabilities. access is potential We in Microsoft with lot with of early many as gets to us much services is more the believe probably mature I months. potential. many you it engagements, partners managed of But the in and

showing I'm Matt back questions. the I no now turn would to for like further And closing call remarks. to

from forward everyone, today, very Thank us night. And questions. out here that, in joining thank look if any Please the and to call for And hearing a have IR you, you group reach great Yes. the have soon. to with you. we you

Thank you, guys.

Bye-bye. you. Thank

this concludes you Thank for call. today's And participating. conference

You may now disconnect.