ALIT - Why Alight Stock Is Jumping Today
2023-11-01 15:48:42 ET
Alight (NYSE: ALIT) stock is losing ground in Wednesday's trading. The company's share price was up 9.9% as of 3:30 p.m. ET, according to data from S&P Global Market Intelligence .
Alight published its third-quarter results before the market opened this morning, posting earnings that beat Wall Street's expectations and sales that came in lower than anticipated. The company recorded non-GAAP (adjusted) earnings per share of $0.14 on revenue of $813 million. Meanwhile, the average analyst estimate had called for per-share earnings of $0.13 on revenue of roughly $829.5 million.
Alight's revenue grew 8% year over year in the third quarter. Sales for its employer solutions segment were up roughly 9% compared to the prior-year period, and business-processes-as-a-service (BPaaS) bookings jumped 26% to hit $262 million.
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Why Alight Stock Is Jumping Today