Amdocs sees record revenue across global regions for its full fiscal year 2024
Amdocs reported record revenue of $5 billion for its fiscal 2024, up 2.4% year-over-year, amid a push to increase its profitability by phasing out some of the less-profitable parts of its business.
The company saw record revenue across geographies: Record revenue of more than $3.3 billion in North America, record revenue of $726 million in Europe and record revenue of $953 million in the rest of the world.
“Fiscal 2024 was another important year in our journey as we continued to serve many of the world’s largest communication service providers with the innovation they need to accelerate their journey to the cloud, enhance customer experience, monetize next generation networks, and to digitalize and automate their mission critical operations,” said Shuky Sheffer, Amdocs Management president and CEO.
He added: “We delivered strong double-digit growth in cloud, achieved a record year in managed services, and accelerated our profitability, all within the backdrop of a challenging industry demand environment. … Additionally, we have continued to enhance our generative AI platform, amAIz, with new capabilities that leverage NVIDIA AI to deliver immersive customer experiences with real-time interaction and visualization.”
During the company’s quarterly call, Sheffer said that Amdocs notched wins with new and existing customers including AT&T, T-Mobile US, Charter Communications and Rogers in North America. Sheffer also specifically mentioned that Amdocs’ work with T-Mo include s “significant project to deploy Amdocs’ next-generation monetization platform under [a] major, multi-year digital transformation program,” and that it is also deploying generative AI with T-Mo to improve the customer experience.
Tamar Rapaport-Dagim, CFO and COO of Amdocs, noted that “In fiscal 2025, we are phasing out several low-margin, non-core business activities that are becoming commoditized and hold little potential for long-term value addition or profitability enhancement. We believe these actions will reinforce our level of business visibility, including a higher share of revenue from long-term managed services engagements. This move is also expected to sharpen our focus on higher-margin strategic priorities like cloud, monetization platforms and gen AI where we are well placed to lead the communications industry through our commitment to innovation.”
Earlier this week, Amdocs had announced that it was expanding the capabilities of its generative AI platform, amAIz, to include gen AI customer care agents that can handle support requests, manage billing inquiries and “facilitate conversational selling,” according to the company. Amdocs said that the amAIz agents will help CSPs provide “efficient, consistent experiences across customer touchpoints.”
The platform itself leverages NVIDIA NIM microservices for real-time, speech-to-speed synthesis as well as presenting digital agents as “interactive, lifelike avatars capable of rendering subtle facial expressions and gestures”, Amdocs said, adding that it also uses AWS tools to select the “relevant AI models to fit latency, accuracy and cost constraints, and ensuring that the amAIz agents interact in real time and adaptively respond to customer needs.”
“amAIz’s integration of NVIDIA AI marks a pivotal advancement in our journey to empower CSPs with unmatched capabilities in customer engagement,” said Anthony Goonetilleke, who is group president of technology and head of strategy at Amdocs.
Christopher Penrose, NVIDIA’s global VP of business development for telco, commented: “This integration with amAIz underscores the potential of combining scalable, intelligent digital AI agents with advanced voice synthesis for exceptional customer engagement in telecom.”
During the quarterly call, Sheffer said that Amdocs was continuing to evolve its data, AI and generative AI platform “with new capabilities designed to meet the needs of the market and to simplify and enable generative AI adoption. The platform is now equipped with customer experience insights, embedded analytics and a unified generative AI foundation, allowing service providers access to actionable customer experience insights based on real-time data harnessed from any source.”
