Genpact Limited (NYSE:G) reported better-than-expected second-quarter financial results and issued FY24 revenue guidance above estimates. Also, the company raised its FY24 EPS guidance above estimates.
Genpact reported quarterly earnings of 79 cents per share which beat the analyst consensus estimate of 72 cents per share. The company reported quarterly sales of $1.18 billion which beat the analyst consensus estimate of $1.14 billion.
"Following another quarter of better-than-expected results and a robust first half performance, we are raising our earnings expectations for the year," said Balkrishan "BK" Kalra, Genpact's President and CEO. "Our second quarter results are a testament to the team's ability to successfully deliver on our '3+1 Execution Framework'. Looking ahead, we will continue to drive execution and lean into innovation, leveraging gen AI and other advanced technologies to deliver superior value for clients and drive productivity for Genpact."
Genpact shares gained 16.3% to trade at $37.67 on Friday.
These analysts made changes to their price targets on Genpact following earnings announcement.
- Needham analyst Mayank Tandon maintained Genpact with a Buy and raised the price target from $40 to $42.
- TD Cowen analyst Bryan Bergin maintained Genpact with a Hold and boosted the price target from $35 to $36.
Considering buying Genpact stock? Here's what analysts think:
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