Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why IBEX Limited Stock Fell Today

TheMotleyFool

0 0

Why IBEX Limited Stock Fell Today: https://g.foolcdn.com/editorial/images/764785/outsourcing-diagram-multiple-people-working-on-different-devices.jpg

Shares of IBEX Limited (NASDAQ: IBEX) fell 9.2% on Friday after the global business-process outsourcing company announced weaker-than-expected quarterly results.

For its fiscal second-quarter 2024 ended Dec. 31, 2023, IBEX's revenue declined 4.8% year over year to $132.6 million, translating to adjusted (non-GAAP) net income of $8 million, or $0.44 per share -- well below estimates for earnings of $0.50 per share. .

IBEX did win eight new clients during the quarter, compared to seven in last year's fiscal Q2, bringing its first-half new-client wins to 12. But CEO Bob Dechant noted that the company's top and bottom lines were impacted by soft volumes with several existing clients.

Source Fool.com

Like: 0

IBEX

Share