TP Stock Under Pressure Following Competitor's Lowered Outlook
TP's stock declined on the Paris Stock Exchange after customer experience competitor Concentrix revised its financial outlook downwards. The move raises concerns about the sector's performance.
TP's shares fell by 3.22% on the Paris Stock Exchange, impacted by the downward revision of prospects by its U.S. competitor Concentrix, a global co-leader in the customer experience market.
Concentrix reported a 1.2% year-over-year decrease in revenue for its fiscal third quarter. The company also lowered its revenue forecasts for the full fiscal year. For fiscal year 2026, it now anticipates revenue between $9.83 and $9.88 billion, down from its previous range of $9.93 to $10.03 billion.
Furthermore, the outlook provided for the fourth quarter does not indicate any significant improvement in business activity. While profitability was slightly better than expected, excluding new significant impairment charges, the overall report offered no clear signs of a recovery, fueling market concerns about the sector's trajectory.
In a note on TP, AlphaValue recalled that the French company itself registered a 1.2% decline in revenue in the second quarter and a 1.7% decrease for the first half of the year. TP still aims for growth between 0% and 2% for the full year 2026, a target that requires a notable improvement in its business activity in the second half.