Conduent Inc's (CNDT) stock plummeted 11.85% in pre-market trading on Wednesday, following the release of the company's disappointing fourth-quarter 2024 earnings results.
The business process outsourcing firm reported Q4 revenue of $800 million, missing analyst expectations of $809.67 million. Conduent also posted an adjusted earnings per share loss of $0.15, wider than the estimated loss of $0.09. The company's net loss for the quarter stood at $12 million, with an adjusted EBITDA margin of just 4%, reflecting ongoing profitability challenges.
The underwhelming financial performance triggered a sharp sell-off in Conduent's shares during the pre-market session. Investors appeared concerned about the company's ability to drive growth and improve its financial performance amid heightened competition and macroeconomic pressures.
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