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Concentrix Corporation - CNXC STOCK NEWS

Welcome to our dedicated page for Concentrix Corporation news (Ticker: CNXC), a resource for investors and traders seeking the latest updates and insights on Concentrix Corporation stock.

Concentrix Corporation (NASDAQ: CNXC) is a leading global provider of customer experience (CX) solutions and technology. The company specializes in end-to-end customer engagement services, technology innovations, analytics, process optimization, and business improvements. Concentrix partners with clients across various industries to transform the customer experience and streamline both front and back-office operations. With a presence in over 70 countries and a diverse workforce of more than 100,000 professionals speaking 40+ languages, Concentrix ensures high-value service delivery at scale.

Concentrix serves key industry verticals including technology & consumer electronics, retail, travel & e-commerce, banking, financial services & insurance, healthcare, communications & media, automotive, and energy & public sector. Its comprehensive service offerings include CX process optimization, front- and back-office automation, analytics, and digital IT services, which have garnered trust from marquee multinational brands.

The company recently completed its strategic combination with Webhelp, further strengthening its global footprint and service capabilities. This merger has already shown promise with increased client demand for the expanded offerings. Additionally, Concentrix has been at the forefront of deploying generative AI solutions and digital innovations to enhance client outcomes.

Financially, Concentrix demonstrated strong performance in its third quarter of fiscal 2023, with revenue growth and profitability meeting expectations. The company's free cash flow increased by 32% year over year. Moving forward, Concentrix is poised for continued growth, driven by vendor consolidation trends and an expanding portfolio of generative AI solutions.

Recent achievements include being ranked 499 on the Fortune 500® list and receiving various industry awards for advancements in AI and business automation. Concentrix remains committed to delivering exceptional value to its clients and shareholders through innovative solutions and steadfast execution.

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Concentrix (NASDAQ: CNXC), a global technology and services leader, unveiled its 2024 Sustainability Report titled 'The Power Of One,' emphasizing its commitment to sustainability and community impact. The report outlines ambitious goals such as achieving a Net Zero carbon footprint by 2050 and supporting the UN's 2030 Sustainable Development Goals. Key focus areas include environmental stewardship, inclusive workplace culture, innovation, trust-building, and community support. Concentrix has exceeded many of its 2025 sustainability targets and reinvigorated its Think Human Foundation to back nonprofits focused on climate resilience and education.

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Concentrix (NASDAQ: CNXC) announced its financial results for the fiscal second quarter ended May 31, 2024. The company reported revenue of $2.38 billion, a 47.4% increase year-on-year, and raised its full-year 2024 revenue guidance due to strong demand for its technology and service offerings.

Adjusted free cash flow for the quarter was over $200 million, and the company returned $60 million to shareholders through share repurchases and dividends. However, operating income decreased by 7.6% to $150.2 million, and net income fell 15.3% to $66.8 million. Diluted EPS declined from $1.51 to $0.98 year-on-year. Adjusted EBITDA was $379.6 million, a 46.7% increase from the previous year.

Concentrix reiterated its commitment to share repurchases, dividends, and debt reduction for 2024. The company also highlighted the successful integration of Webhelp and maintained its outlook for adjusted free cash flow for the year.

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Concentrix (NASDAQ: CNXC) will release its fiscal second quarter 2024 financial results after market close on Wednesday, June 26, 2024.

A conference call and webcast to discuss these results will follow at 5:00 pm ET the same evening. The webcast will be accessible in listen-only mode in the Investor Relations section of the Concentrix website. A replay will also be available.

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Concentrix (NASDAQ: CNXC) has debuted on the Fortune 500 list, securing the 499th position based on 2023 revenue. This milestone showcases the company's significant growth and dedication to providing transformative solutions for over 2000 clients. President and CEO Chris Caldwell attributes this success to the hard work and innovation of their team. Recent accolades include multiple Brandon Hall Technology Awards and recognition for company culture, including Best Places to Work for Women in 2023 and Best Company Global Culture from Comparably. Concentrix's strong financial performance and expansion in AI and digital capabilities underline its status as a leading technology and services firm.

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Concentrix (NASDAQ: CNXC), a global technology and services leader, announced its participation in several upcoming investor conferences. Senior management will attend the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference on May 22, 2024, in Boston, MA.

They will also be present at the Baird 2024 Global Consumer, Technology & Services Conference on June 4, 2024, in New York City, and the BofA Securities 2024 Global Technology Conference on June 5, 2024, in San Francisco, CA. All presentations and webcasts will be accessible on Concentrix’s investor relations webpage.

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Concentrix (NASDAQ: CNXC) has been recognized as a Leader and Star Performer in Everest Group's Trust and Safety Services PEAK Matrix® Assessment 2024. The assessment highlighted Concentrix's diversified portfolio, use of generative AI for automation, and investments in AI-based tools. The company received a perfect score in the portfolio mix category and was praised for its expanded coverage, implementation of automated trust and safety platform Moderatus, and investments in AI technology.
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Concentrix (NASDAQ: CNXC) rebrands as Concentrix, emphasizing its global technology and services leadership. The new visual identity reflects the company's focus on people and clients at the center, with a commitment to delivering innovative solutions. With expanded AI solutions and digital capabilities, Concentrix aims to provide fully integrated solutions across the enterprise.
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Concentrix (CNXC) reports strong financial results for the fiscal first quarter ended February 29, 2024, with revenue at the high end of guidance range. The company confirms its full-year business outlook for revenue, profit, and cash flow, and commits to share repurchases of $100 million over the remainder of 2024.
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Concentrix Corporation (CNXC) will release its fiscal first quarter 2024 financial results on March 26, 2024, followed by a conference call and webcast for investors. The event will provide insights into the company's performance and future outlook.
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Concentrix Corporation (CNXC) appoints Ryan Peterson as Executive Vice President and Chief Product Officer to drive innovation and enhance customer experiences with GenAI powered solutions. Ryan's extensive product and AI experience from Amazon Web Services will bolster Concentrix's product portfolio and capabilities.
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FAQ

What does Concentrix Corporation do?

Concentrix Corporation provides customer experience (CX) solutions and technology, specializing in end-to-end customer engagement, technology innovations, and business improvements.

In which industries does Concentrix operate?

Concentrix operates across several industries including technology & consumer electronics, retail, travel & e-commerce, banking, financial services & insurance, healthcare, communications & media, automotive, and energy & public sector.

How many countries does Concentrix operate in?

Concentrix operates in over 70 countries, providing global consistency with local market expertise.

What was a recent strategic move by Concentrix?

Concentrix recently completed a strategic combination with Webhelp, enhancing its global capabilities and service offerings.

How has Concentrix performed financially in recent quarters?

In the third quarter of fiscal 2023, Concentrix achieved revenue growth and profitability in line with expectations, with a notable 32% increase in free cash flow year over year.

What are some of the latest achievements of Concentrix?

Concentrix was ranked 499 on the Fortune 500® list and has received industry recognition for advancements in AI, business automation, and company culture.

How many employees does Concentrix have?

Concentrix employs over 100,000 staff members across the globe who speak more than 40 languages.

What is the significance of Concentrix's combination with Webhelp?

The combination with Webhelp expands Concentrix's service capabilities and global reach, meeting increased client demand for comprehensive CX solutions.

What are Concentrix's primary service offerings?

Concentrix offers CX process optimization, front- and back-office automation, analytics, digital IT services, and business transformation solutions.

Where can I learn more about Concentrix Corporation?

Visit Concentrix's official website at https://www.concentrix.com for more information.

Concentrix Corporation

Nasdaq:CNXC

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15.32%
80.42%
4.26%
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