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Amdocs Management’s 10-Year Liberty Latin America Deal — Is aOS The Tipping Point?

Amdocs Management Limited reported third fiscal quarter 2026 revenue of $1.175 billion, reflecting a 2.7% increase year-over-year and consistent with the midpoint of guidance. The company achieved a non-GAAP diluted earnings per share (EPS) of $1.84, aligning with expectations, alongside an improvement in non-GAAP operating margin to 21.6%, up 20 basis points from the prior year. Managed Services, a key segment accounting for 67% of total revenue, delivered a record quarter with $791 million in revenue and high renewal rates. Amdocs concluded the quarter with a 12-month backlog of $4.26 billion, up 2.7% year-over-year but down slightly sequentially. The company reiterated its full-year 2026 outlook, forecasting revenue growth of approximately 3% in constant currency and non-GAAP diluted EPS growth of 6%. Free cash flow before restructuring payments reached $193 million in Q3, accounting for nearly 75% of the fiscal year target of around $720 million.