AudioCodes (AUDC), a leading provider of unified communications, voice solutions, contact center, and conversational AI applications for enterprises, has reported a significant increase in net income for the fourth quarter of 2024. The company achieved a net income of $6.78 million, or $0.22 per share, compared to the fourth quarter of 2023 when net income was $3.66 million, or $0.12 per share.
On a Non-GAAP basis, the company's net income for the quarter was $11.63 million, equating to $0.37 per share, which represents an increase from the previous year's figure of $8.91 million, or $0.28 per share. This exceeded analysts' average expectations, who had predicted earnings of $0.23 per share for the fourth quarter, typically excluding special items.
However, revenues for the fourth quarter of 2024 saw a decline, falling to $61.55 million from $63.56 million in the same period in 2023. Analysts had anticipated revenue to be approximately $61.52 million for the quarter.
Looking ahead, the company anticipates improved top-line growth in 2025 and beyond.
In addition, AudioCodes has announced a cash dividend of $0.18 per share. The total dividend amounts to approximately $5.3 million, payable on March 6, 2025, to shareholders of record as of the close of trading on the NASDAQ Global Select Market on February 20, 2025.
