Stock Track | Conduent Stock Plunges on Q3 Revenue Miss, Weak Sales Growth

Stock Track11-06

Shares of Conduent Inc (NASDAQ: CNDT) plummeted more than 8% in pre-market trading on Monday after the business process services company reported disappointing third-quarter revenue results, missing analyst estimates.

Conduent reported Q3 2024 adjusted revenue of $781 million, falling short of the consensus estimate of $817.33 million. While the company's adjusted earnings per share of -$0.14 beat expectations of -$0.15, the revenue miss overshadowed the earnings beat, leading to the sharp sell-off in the stock.

The company's Q3 2024 revenue of $807 million marked a 13.41% decrease from the same period last year, indicating a slowdown in Conduent's business growth. The lackluster revenue performance, coupled with the year-over-year decline in sales, raised concerns among investors about the company's ability to drive sustainable growth.

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