Concentrix Stock Falls After Mixed Q3 Results, iX Hello GenAI Launch Annoucement
Portfolio Pulse from Erica Kollmann
Concentrix Corp (NASDAQ:CNXC) reported mixed Q3 results with earnings slightly below expectations but revenue exceeding estimates. The company launched iX Hello, a generative AI solution, and provided a positive outlook for Q4 and fiscal year 2024. Despite this, CNXC shares fell 14.02% after-hours.
September 25, 2024 | 9:01 pm
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Concentrix reported Q3 earnings below expectations but revenue above estimates. The launch of iX Hello, a new AI solution, and a positive outlook for Q4 and FY 2024 were announced. Despite these developments, CNXC shares fell 14.02% after-hours.
The mixed Q3 results, with earnings slightly below expectations, likely contributed to the 14.02% drop in CNXC shares after-hours. The positive revenue beat and the launch of iX Hello, a new AI solution, were not enough to offset investor concerns. The company's positive outlook for Q4 and FY 2024 may provide some support, but the immediate reaction is negative.
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