Convergys Corporation (NYSE:CVG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.06%.
Convergys Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 31.58% to $0.25 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 2.63% to $504 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Convergys Corporation reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $501.14 million.
Quoting Management: “We delivered steady improvement in revenue, EBITDA and EPS in the second quarter as we execute our plan for sustained growth and margin expansion,” said Andrea Ayers, president and CEO. “Our winning business model is driving predictable, consistent performance through a unique combination of global quality delivery, comprehensive solutions and close client engagement. We had another quarter of strong new business signings, and are confirming our full-year guidance.”
Key Stats (on next page)…
Revenue increased 2.13% from $493.5 million in the previous quarter. EPS decreased 7.41% from $0.27 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.28 to a profit $0.27. For the current year, the average estimate has moved up from a profit of $1.05 to a profit of $1.08 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)