NCR Corp. (NCR) Tops Q1 EPS by 10c

NCR Corp. (NYSE: NCR) reported Q1 EPS of $0.56, $0.10 better than the analyst estimate of $0.46. Revenue for the quarter came in at $1.48 billion versus the consensus estimate of $1.46 billion.

• Revenue of $1.48 billion, up 2% as reported and up 9% excluding FX and the IPS divestiture
• Software revenue up 8%, software license growth of 29% and cloud growth of 6%; Net ACV of $18 million in the quarter, up 29%
• GAAP gross margin rate expanded 160 basis points to 27.9%; Non-GAAP gross margin rate expanded 210 basis points constant currency to 29.2%
• GAAP diluted EPS of $(0.14), down from $0.16 in the prior year due to impact of the deemed dividend from the Q1 Blackstone transaction; Non-GAAP diluted EPS of $0.56, up from $0.38 in the prior year
• $350 million of share repurchases completed; New $300 million share repurchase authorization approved
• 2017 GAAP diluted EPS adjusted due to impact of the Q1 Blackstone transaction; 2017 Revenue and Non-GAAP diluted EPS guidance raised; Maintaining our 2017 cash flow guidance

For earnings history and earnings-related data on NCR Corp. (NCR) click here.

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