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(BFM Bourse) – The outsourced customer relations group is suffering on the Paris market while the market cross-reads the results of its American rival negatively.
If the CAC 40 is celebrating this Thursday, with a 2% increase around 3:10 p.m., this is not the case for Teleperformance. The outsourced customer relations group fell by 6% and suffered the biggest drop in the CAC 40.
The French company is weighed down by a negative cross-reading carried out by the market. That is to say, investors judge that an announcement made by a company reflects a problem for an entire sector of the same company.
In this case, investors are worried about the poor figures of an American competitor of Teleperformance, Concentrix. This Wall Street-listed company delivered results and prospects that were generally below expectations.
In its quarter from May to the end of August, the company generated revenues of $2.39 billion, up 2.6% on a like-for-like basis, while its earnings per share stood at 2.87 dollars, much less than the consensus cited by investing.com, at $2.93.
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Concentrix falls on Wall Street
The company also indicated that it was targeting between $9.59 billion and $9.641 billion in revenue for its entire 2023-2024 fiscal year as well as earnings per share of between $11.05 and $11.31. According to investing.com, the consensus was for revenue of $9.63 billion and earnings per share of $11.71.
On Wall Street, Concentrix shares plunged 11.7% in pre-opening trading in reaction to these results.
“The outlook for Concentrix is disappointing and the message sent is very different from what was presented in the second quarter. This shows that the customer experience sector is likely to remain under stress until the end of the year,” judges a financial intermediary.
Teleperformance’s last two publications were nevertheless well received by the market. In the second quarter, the group’s like-for-like growth reached 2.4%, accelerating compared to the first three months of the year (+0.9%). This brought the increase in revenue on these same bases to 1.7% over the entire first half.
The company expects its momentum to accelerate in the second part of the year, thanks in particular to a lenient comparison basis, which should enable it to achieve growth of between 2% and 4% over the entire year. 2024.
Julien Marion – ©2024 BFM Bourse
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