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● Enters Multi - Year Strategic Partnership Agreement with T - Mobile USA to Modernize and Accelerate Digital Transformation and Next Generation Hybrid - Cloud Operations Reiterates Outlook for Accelerated Revenue Growth in FY21 on a Pro Forma ( ² ) Basis , Adjusting for Divestiture of OpenMarket First Quarter Fiscal 2021 Highlights Revenue of $ 1,086 million , above the midpoint of the $ 1,055- $ 1,095 million guidance range , even after adjusting for a positive impact from foreign currency movements of approximately $ 6 million compared to our guidance assumptions Closed the previously announced divestiture of OpenMarket , which was an Amdocs subsidiary , on December 31 , 2020 for gross proceeds of approximately $ 300 million Record managed services revenue of $ 624 million , equivalent to approximately 57 % of total revenue ● - amdocs ● Amdocs Limited Reports First Quarter Fiscal 2021 Results Record Quarterly Revenue of $ 1.09 Billion GAAP diluted EPS of $ 2.28 , above the $ 0.85- $ 0.93 guidance range , primarily due to gain , net of tax , from divestiture of OpenMarket which was not included in guidance Non - GAAP diluted EPS of $ 1.16 , above the $ 1.09- $ 1.15 guidance range ; non - GAAP diluted EPS excludes , among other , the gain , net of tax , from divestiture of OpenMarket ( ¹ ) GAAP operating income of $ 140 million ; GAAP operating margin of 12.9 % Non - GAAP operating income of $ 188 million ; non - GAAP operating margin of 17.3 % Quarterly free cash flow of $ 366 million , comprised of cash flow from operations of $ 416 million , reflecting healthy cash collections and the cash benefit of a multi - year strategic partnership agreement with T - Mobile , less $ 50 million in net capital expenditures and other Normalized free cash flow of $ 385 million ( 1 ) ( 1 ) Please refer to the Selected Financial Metrics tables below ( figures may not sum because of rounding ) . ( 2 ) Pro forma growth rate excludes the financial impact of OpenMarket from the current fiscal year and comparable fiscal year