Concentrix Corp. (NASDAQ:CNXC) released its second-quarter results after Thursday's closing bell. Here's a look at the details in the report.
The Details: Concentrix reported quarterly earnings of $2.70 per share, which missed the analyst consensus estimate of $2.75. Quarterly revenue came in at $2.42 billion, which beat the Street estimate of $2.38 billion.
Read Next: AST SpaceMobile Stock Downgraded, Rocket Lab Prepares Electron Launch: Space Stock Countdown
“In the second quarter, we continued to outperform expectations on revenue growth despite some mid-quarter volatility,” said Chris Caldwell, CEO of Concentrix.
“As we look ahead to the second half, we are seeing an accelerated pace of activity with both existing and new clients, and improving margins. Further, our AI investments are on pace to be accretive to the business by year-end as planned,” Caldwell added.
Outlook: Concentrix narrowed its fiscal 2025 adjusted EPS guidance from FY2025 Adj. between $11.18 and $11.77 to between $11.53 and $11.76, versus the $11.54 analyst estimate.
The company raised its fiscal 2025 revenue outlook from between $9.49 billion and $9.63 billion to between $9.72 billion and $9.81 billion, versus the $9.61 billion estimate.
CNXC Price Action: According to data from Benzinga Pro, Concentrix stock was down 8.49% at $50.45 in Thursday's extended trading.
Read Next:
Image: Shutterstock