Key Highlights

  • Amdocs (NASDAQ:DOX) guided fiscal 2027 Revenue down 14.3% to 17.9% as reported, and the after-hours quote of USD 35.80 on November 3, 2026 was about 43% below the USD 62.47 close.
  • Fiscal 2026 revenue was USD 4.697 billion, up 3.6%, with non-GAAP diluted EPS of USD 7.41, up 6.0%. Fourth-quarter revenue was USD 1.194 billion, up 3.8%.
  • Fiscal 2027 non-GAAP diluted EPS is guided down 26% to 30%, with a non-GAAP Operating Margin of 19.2% to 19.8%, against 21.6% a year earlier.
  • Amdocs and T-Mobile have each sent notices alleging material breach, and the outlook includes a scenario in which either party terminates the agreements.

What Amdocs Reported and Guided

Amdocs (NASDAQ:DOX) released fourth-quarter fiscal 2026 results on November 3, 2026, after the close. Non-GAAP diluted EPS was USD 1.98 against USD 1.83 a year earlier, and GAAP diluted EPS was USD 1.35. For fiscal 2027 the company guided reported revenue down 14.3% to 17.9%, or down 7% to 11% on a pro forma constant-currency basis after about USD 360 million of revenue exits and a media divestiture. Free Cash Flow is guided at USD 440 million to USD 500 million before restructuring payments. First-quarter revenue is guided at USD 955 million to USD 995 million. Quarterly revenue of USD 1.194 billion rose 3.8% as reported and 4.0% in constant currency, while full-year GAAP diluted EPS of USD 4.68 fell 7.3% after a restructuring charge of 130 cents per share.

The T-Mobile Dispute Explained

The swing Factor is a disagreement over recently signed agreements with T-Mobile, where each side has alleged material breach and both have raised termination and arbitration as possible paths. Amdocs called it an isolated situation involving one customer and said the guidance accounts for termination by either party. Management also cited lower discretionary spending at T-Mobile and the completed integration of USCellular customers. The 12-month Backlog fell 9.6% to USD 3.5 billion on a pro forma basis, mainly because of T-Mobile, while backlog excluding T-Mobile grew at a mid-single-digit rate. Managed services revenue was USD 3.023 billion in fiscal 2026, about 64% of the total, which is why one large customer can move the outlook so much.

Quote Versus Close, and the Risks Ahead

The USD 35.80 figure is an after-hours quote on thin volume, not a closing price, and some published coverage cites a drop near 44%. The 42.7% figure here is simple arithmetic on the USD 62.47 close and the USD 35.80 quote. Amdocs raised its Dividend by 3% to USD 0.586 per share, subject to Shareholder approval in January 2027, and repurchased USD 511 million of stock in fiscal 2026. Risks include an arbitration outcome, further customer losses and margin pressure. Amdocs (NASDAQ:DOX) outlined a fiscal 2028 return to mid-single-digit revenue growth, which is a company outlook, not a forecast. About USD 500 million remains under the repurchase authorization.

Where Things Stand

Amdocs (NASDAQ:DOX) plunged after hours because it guided fiscal 2027 revenue down 14.3% to 17.9% and non-GAAP EPS down 26% to 30%, mostly tied to the T-Mobile dispute, a far weaker picture than the 3.6% growth just reported for fiscal 2026. The reaction may overshoot or may not: the guidance is wide, the dispute is unresolved, and backlog excluding T-Mobile is still growing. Watch the regular-session close on November 4, any arbitration news and the fiscal 2028 targets. First-quarter fiscal 2027 non-GAAP EPS is guided at USD 1.27 to USD 1.33.