Key Highlights

  • Amdocs (NASDAQ:DOX) guided fiscal 2027 reported Revenue down 14.3% to 17.9%, and its after-hours quote of USD 35.80 on November 3, 2026 sat about 43% under the USD 62.47 close.
  • Fiscal 2026 revenue came to USD 4.697 billion, up 3.6%, while non-GAAP diluted EPS rose 6.0% to USD 7.41. 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%, compared with 21.6% a year earlier.
  • Amdocs and T-Mobile have each sent notices alleging material breach, and the outlook allows for a case in which either side terminates the agreements.

What Amdocs Reported and Guided

Amdocs (NASDAQ:DOX) published 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, reported revenue is guided down 14.3% to 17.9%. On a pro forma constant-currency basis the decline is 7% to 11%, reflecting roughly 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, and first-quarter revenue at USD 955 million to USD 995 million. Fourth-quarter revenue rose 3.8% as reported and 4.0% in constant currency. Full-year GAAP diluted EPS of USD 4.68 fell 7.3%, weighed down by a restructuring charge of 130 cents a share.

The T-Mobile Dispute Explained

The main swing Factor is a disagreement over recently signed agreements with T-Mobile. Each side has alleged a material breach, and both have raised termination and arbitration as possible routes. Amdocs describes the matter as an isolated situation involving one customer and says its guidance allows for termination by either party. Management also pointed to 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, largely because of T-Mobile, while backlog excluding T-Mobile grew at a mid-single-digit pace. Managed services produced USD 3.023 billion of fiscal 2026 revenue, about 64% of the total, which explains why a single large customer can shift the whole outlook.

Quote Versus Close, and the Risks Ahead

The USD 35.80 figure is an after-hours quote on thin trading, not a settled closing price, and some coverage describes a drop closer to 44%. The 42.7% figure used in this article 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 a share, subject to Shareholder approval in January 2027, and bought back USD 511 million of stock in fiscal 2026. Arbitration results, further customer losses and margin pressure are the main risks. Amdocs (NASDAQ:DOX) also outlined a return to mid-single-digit revenue growth in fiscal 2028, which is a company aim rather than 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%, mainly on the T-Mobile dispute. That outlook is far weaker than the 3.6% revenue growth reported for fiscal 2026. The reaction could overshoot or prove right: the guidance range 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.