Phone payments specialist misses Q1 targets - blames recession and reduced client spending.
Digital billing giant Amdocs has missed its own 1Q revenue forecast, posting sales up 1.6 per cent to $746 million - coming up short of the $785-810 million expected.Earnings came in at $74.2 million compared to $95.7 million a year earlier.
Amdocs also painted a downbeat picture for Q2, sending its shares sliding 10 per cent.
Dov Baharav, Amdocs chief exec, said: "To date, we are not experiencing project cancellations, but the pace of deal signings has slowed and we expect the market will remain difficult until global spending trends in communications and credit market conditions stabilise."
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