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NCR sees revenue increase, operating cash decrease in Q3 results

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October 26, 2022

NCR Corp. reported a revenue of $1.97 billion in the third quarter of 2022, an increase of 4% on a year-over-year basis. This translated to an increase of 8% on a constant currency basis, according to a press release on the quarterly financial report.

However, the company's cash from operating activities fell from $497 million to $127 million and free cash outflow dipped from $125 million to $28 million.

Additional financials on a year-over-year basis include:

• Gross margin decreased from $520 million to $493 million.
• Operations income increased from $157 million to $187 million.
• Non-GAAP operating income increased from $215 million to $249 million.
• Third quarter adjusted EBITDA increased from $352 million to $380 million.

NCR is in process of splitting into two separate companies, with one focused on digital commerce and the other on ATMs.

"We are pleased with our third quarter results, which represent strong execution with solid revenue growth and significant margin expansion, despite ongoing macroeconomic and geopolitical volatility," Michael Hayford, CEO, NCR, said in the release. "Our third quarter results demonstrate the power of our strategy that is transforming NCR into a software-led as-a-service company with a higher mix of recurring revenue streams."