Audiocodes (AUDC) has released an update.
AudioCodes reported a slight decline in third-quarter revenues to $60.2 million, though service revenues increased by 6.4%, driven by growth in managed services and conversational AI. Despite a decrease in overall net income, the company achieved significant annual recurring revenue growth, largely supported by its partnership with AT&T and expanding AI solutions for Microsoft Teams. The company also continued its share buyback program, acquiring 332,709 shares for $3.6 million.
For further insights into AUDC stock, check out TipRanks’ Stock Analysis page.
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