Shares of Concentrix Corp. dropped late Monday after the artificial intelligence-powered customer experience platform slightly missed second-quarter earnings expectations and issued poor guidance.
Shares fell more than 24% to $19.15 in late trading, after closing up 0.9% at $25.23 in regular trading.
Adjusted earnings of $2.63 a share was a penny worse than Wall Street expected, while revenue of $2.46 billion was up 1.9% from last year but also a penny less than expected.
Concentrix says it designs, builds, and runs integrated human and AI solutions for businesses, running customer experience operations and back office functions.
Investors were focused on the company's third-quarter adjusted earnings guidance of $2.65 to $2.77 a share, which was below the $3.08 a share consensus.
Third-quarter revenue guidance of $2.465 billion to $2.490 billion was also below the $2.53 billion consensus.
For full-year 2026, Concentrix expects adjusted earnings of $10.83 to $11.18 a share, versus the $11.71 a share expected by analysts. It projects revenue of $9.925 billion to $10.025 billion, also below the $10.11 billion analysts' consensus.
Concentrix's stock is down 39% this year through Monday's close, and down more than 52% over the past 12 months.
Write to Janet H. Cho at janet.cho@dowjones.com
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(END) Dow Jones Newswires
June 29, 2026 16:46 ET (20:46 GMT)
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