Shares of Genpact (NYSE: G), a global professional services firm, surged over 10% in pre-market trading on Wednesday, November 8, 2024, following the company's impressive third-quarter 2024 earnings report and raised full-year guidance.
In the quarter ended September 30, 2024, Genpact reported revenue of $1.21 billion, up 7% year-over-year, surpassing the high end of its guidance range. The company's strong performance was driven by solid growth across its Data-Tech-AI and Digital Operations segments, which saw revenue increases of 9% and 5% respectively.
Genpact's profitability also improved significantly, with gross margin reaching 35.6%, up 10 basis points from the prior year, and adjusted operating income margin expanding 40 basis points to 17.6%. Net income and diluted EPS grew by 13% and 16% respectively, reflecting the company's operational efficiency and effective cost management.
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