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NCR Corporation Logo NCR Announces Third Quarter 2021 Results October 26 , 2021 Revenue up 20 % and Significant Profit Margin Expansion ATLANTA -- ( BUSINESS WIRE ) -- Oct . 26 , 2021-- NCR Corporation ( NYSE : NCR ) reported financial results today for the three months ended September 30 , 2021. Third quarter and other recent highlights include : • Revenue of $ 1.90 billion , up 20 % ; Recurring revenue growth of 39 % • Significant profit margin expansion driven by a favorable mix of revenue • Cash flow from operations of $ 497 million ; Free cash flow of $ 125 million • GAAP diluted EPS of $ 0.06 ; Non - GAAP diluted EPS of $ 0.69 • Acceleration across all strategic growth initiatives " We delivered solid results in the third quarter with strong growth in recurring revenue streams , higher profitability , and consistent cash generation . Adjusted EBITDA expanded to a multi - year high of 18.5 % and year - to - date we have generated over $ 350 million of free cash flow , " said Michael Hayford , Chief Executive Officer . " More importantly , we made significant progress in the strategic initiatives that are transforming NCR into a software platform and payments company . Strong demand , diligent execution , and strategic traction should allow us to close out a successful 2021 and provide momentum for 2022. The integration of Cardtronics is well underway and we remain enthusiastic about the growth opportunities that the combination will yield . " In this release , we use certain non - GAAP measures . These non - GAAP measures include " free cash flow , " " adjusted EBITDA , " and others with the words " non - GAAP " in their titles . These non - GAAP measures are listed , described and reconciled to their most directly comparable GAAP measures under the heading " Non - GAAP Financial Measures " later in this release . Third Quarter 2021 Operating Results On June 21 , 2021 , we completed the acquisition of Cardtronics plc ( " Cardtronics " ) . On August 10 , 2021 , the Competition and Markets Authority ( CMA ) of the United Kingdom approved the transaction without any conditions . All regulatory approvals and consents are now secured , and the transaction is complete . The September 30 , 2021 year to date results include the operations of Cardtronics from June 21 , 2021 to September 30 , 2021 and the results for the quarter ended September 30 , 2021 include a full three months for Cardtronics . Revenue Third quarter revenue of $ 1,901 million increased 20 % year over year . The following table shows revenue for the third quarter : $ in millions Banking Retail Hospitality T & T Total Revenue Software & Services Revenue Software & Services Revenue % Recurring Revenue Q3 2021 $ 1,050 553 223 75 $ 1,901 $ 1,450 76 $ 1,181 Q3 2020 $ 777 556 173 83 $ 1,589 $ 1,123 % 71 $ 848 % % Increase ( Decrease ) 35 29 ( 10 20 29 39 % % ) % % ) % % %