Stock Track | Conduent Inc Plunges in Pre-Market After Disappointing Q3 Earnings

Stock Track11-06

Conduent Inc (NASDAQ: CNDT) shares plummeted in pre-market trading on Monday after the company reported mixed third-quarter earnings results, with revenue missing analyst estimates.

The business process services company reported adjusted revenue of $781 million for the third quarter, falling short of the consensus estimate of $817.33 million. While Conduent's adjusted earnings per share of -$0.14 beat expectations of -$0.15, the revenue miss seems to have overshadowed the earnings beat, leading to the pre-market sell-off.

Conduent's Q3 revenue of $807 million marked a 13.41% decrease from the same period last year, indicating a slowdown in the company's business. However, the company reported a net income of $123 million or $0.72 per share, driven by non-recurring gains.

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