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Convergys posts 7% decline in revenue in Q3

Global outsourcing giant Convergys reported a 7% decline in revenue for the third quarter of 2017 to USD688m from USD741m in the same period last year. Third-quarter revenue also includes USD13m, a 2 percent inorganic contribution for the month of July from the buw acquisition which closed in August 2016. The company said its bottom line declined to USD41.9m, or USD0.42 per share. This was down from USD47.8m, or USD0.46 per share, in last year's third quarter. Analysts had expected the company to earn USD0.44 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company expects a slight improvement in fourth-quarter results compared to its third-quarter results.
07 November 2017