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Investing.com -- Concentrix Corporation (NASDAQ:CNXC) reported second-quarter earnings that fell short of analyst estimates, sending its shares down 6% in after-hours trading on Thursday.
The global technology and services provider posted adjusted earnings per share of $2.70 for the quarter ended May 31, missing the consensus estimate of $2.78. Revenue came in at $2.42 billion, slightly above expectations of $2.38 billion and up 1.5% YoY.
Concentrix attributed the earnings miss to "temporary program pauses mid-quarter and investments ahead of expected accelerated growth in the second half of the year." The company’s non-GAAP operating income declined 5.4% YoY to $303.7 million.
"In the second quarter, we continued to outperform expectations on revenue growth despite some mid-quarter volatility," said Chris Caldwell, President and CEO of Concentrix.
Looking ahead, Concentrix provided third-quarter revenue guidance of $2.445-$2.47 billion, above the $2.392 billion consensus. It sees Q3 adjusted EPS of $2.80-$2.91, compared to estimates of $2.90.
For the full fiscal year 2025, the company forecasts revenue of $9.72-$9.815 billion and adjusted EPS of $11.53-$11.76, both above analyst expectations.
Concentrix declared a quarterly dividend of $0.33275 per share and repurchased approximately 920,000 shares during the quarter at an average cost of $49.09 per share.
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