TDCX - Why TDCX Inc. Stock Rebounded Today
2023-08-24 17:12:58 ET
After falling more than 20% on Wednesday ahead of its second-quarter 2023 earnings release, shares of TDCX (NYSE: TDCX) are up 26.8% as of 2:30 p.m. EDT Thursday, according to data provided by S&P Global Market Intelligence . The rebound comes after a positive analyst note and mergers and acquisitions (M&A) speculation overshadowed weaker-than-expected second-quarter 2023 results from the digital customer experience (CX) solutions company.
On the latter, TDCX's quarterly headline numbers technically fell short of analysts' expectations. Revenue climbed 5.5% year over year (11.3% at constant currency) to $126.2 million, translating to adjusted ( non-generally accepted accounting principles, or GAAP ) net income of $21 million, or $0.15 per share. Adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) fell 7.1% year over year to $32.7 million, or 25.9% as a percentage of revenue.
Analysts, on average, were expecting slightly higher adjusted earnings of $0.16 per share on revenue of $129.4 million.
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Why TDCX Inc. Stock Rebounded Today