Teleperformance falls after cutting again 2023 revenue target
07/11/2023 08:08
** Shares in Teleperformance TEPRF.PA drop over 5% after
the call-centre operator trimmed its full-year revenue growth
target for the third time this year
** The French group said on Monday it expected "about 6%" in
like-for-like revenue growth, against a previous forecast of
between 6% and 8% and an initial guidance of about 10% growth
** According to the group, the environment is challenging
with many US companies tightening their budgets and the
evolution of consumer behaviour post COVID confinement
** "Uncertainty likely to persist", Deutsche Bank says in a
note, pointing to lower-than-consensus like-for-like ex-COVID
growth and a slowdown in growth in the core services business
** The broker adds that significant questions remain about
the long-term impact of AI and, and despite progress on the
Majorel acquisition, it says key questions are unlikely to be
answered, at least until the recently announced CMD in Q2 2024
(Reporting by Diana Mandiá)
((diana.mandiaalvarez@thomsonreuters.com))