JERSEY CITY, NJ - Amdocs (NASDAQ:DOX), a software and services provider for media companies, has partnered with Virgin Media O2 to enhance the UK telecom operator's subscription offerings. Virgin Media O2 will introduce a variety of new digital services, including streaming, gaming, and health, leveraging Amdocs' Subscription Marketplace.
The move comes as subscription models gain traction in the UK, with consumers, especially those aged 25-54, favoring the convenience of accessing diverse content under a single contract. Amdocs' technology will enable Virgin Media O2 to quickly and efficiently bring these services to market, responding to the evolving preferences of today's customers.
Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs, remarked on the collaboration's potential to improve customer experience and increase customer lifetime value. He emphasized the importance of service providers like Virgin Media O2 in providing flexibility and a broad range of services to stay ahead in the competitive market.
David Bouchier, Chief TV and Entertainment Officer at Virgin Media O2, expressed the company's commitment to enhancing customer experiences by offering new entertainment options across multiple platforms. This partnership will allow customers to manage their various digital services conveniently in one location.
Amdocs, with around 29,000 employees globally, supports service providers in their transition to the cloud and helps them differentiate in the 5G era. The company reported revenue of $4.89 billion in fiscal 2023.
InvestingPro Insights
In light of Amdocs' (NASDAQ:DOX) recent partnership with Virgin Media O2, investors may be interested in the company's financial health and market performance. Amdocs has shown a commitment to enhancing shareholder value, as evidenced by its aggressive share buyback strategy and high shareholder yield. It's worth noting that Amdocs has also raised its dividend for 12 consecutive years, which speaks to the company's consistent approach to returning value to its shareholders.
Looking at real-time metrics from InvestingPro, Amdocs has a market capitalization of $10.01 billion and a healthy Price/Earnings (P/E) ratio of 18.25, suggesting that the company is reasonably valued in the current market. The adjusted P/E ratio for the last twelve months as of Q1 2024 is even more attractive at 16.73. Additionally, Amdocs has reported a solid revenue growth of 6.21% over the last twelve months as of Q1 2024, indicating that the company is expanding its financial base amidst its strategic partnerships and service offerings.
For investors looking for a more in-depth analysis, there are additional InvestingPro Tips available for Amdocs. These include insights into the company's valuation, which implies a strong free cash flow yield, and its trading patterns, which generally exhibit low price volatility. Subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, granting access to all 11 additional InvestingPro Tips for Amdocs, which can be found at https://www.investing.com/pro/DOX.
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