Audiocodes Beats Analysts’ Expectations, Plots AI Venture
The Voice Over IP lists as Softbank, and Deutsche Telekom as customers
18:0024.01.18
Nasdaq-listed voice over IP company AudioCodes Ltd. published its fourth quarter and full year reports for 2017 Wednesday, exceeding analyst expectations.
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The company reported fourth-quarter revenues of $41.4 million, a 9.7% year-over-year increase, beating analyst expectations of $40.3 million, and annual revenues of $156.7 million in 2017, a 7.6% year-over-year increase.
AudioCodes CEO Shabtai Adlersberg . Photo: PR
Established in 1993 and headquartered in Lod, a city in central Israel, AudioCodes designs and sells advanced voice networking and media processing products and applications. The company lists Japan's Softbank Corporation, telecommunication company Deutsche Telekom AG and Ticketmaster among its clients.
On Tuesday, AudioCodes announced the establishment of a new artificial intelligence business unit that will work in parallel to the company's existing voice networking business to provide its clients with conversational analytics and insights.
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"We might need to raise capital for the new unit," AudioCodes CEO Shabtai Adlersberg said in an interview with Calcalist. "The market currently has an opportunity window, but we'll have to wait and see."
