TIXT - Why Telus International Stock Is Plummeting Today
2023-07-14 12:24:37 ET
Shares of Telus International (NYSE: TIXT) are sinking Friday following preliminary second-quarter results and downward guidance revisions. The information technologies specialist's stock price was down 28.4% as of noon ET, according to data from S&P Global Market Intelligence .
Telus International published a press release after the market closed on Thursday and now projects that second-quarter revenue will come in between $660 million and $668 million. Hitting the midpoint of the target would have the company on track to increase sales roughly 6.5% year over year. Excluding the contribution from its acquisition of WillowTree, the company now expects a sales decline of roughly 1% year over year in the quarter.
Meanwhile, the company expects to post a loss between $0.03 per share and $0.05 per share in the quarter. Non-GAAP (adjusted) earnings per share are projected to be between $0.15 and $0.17, suggesting a year-over-year decline of roughly 46.5% at the midpoint of the target.
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Why Telus International Stock Is Plummeting Today