Concentrix slides as $1.05 billion charge drives Q3 loss

By Reuters News

** Shares of Concentrix Corporation CNXC.O tumble 11.5% to $22.02 premarket

** The global technology and services company swings to a loss of $16.24 per share in Q3, after a $1.05 billion non-cash goodwill impairment charge

** Concentrix's Q3 revenue of $2.45 billion slightly misses estimates of $2.48 billion; adj. EPS of $2.92 beats estimates of $2.71

** Co is trading at 2.23 times expected earnings over next 12 months, far below the industry median of 13.72 - data compiled by LSEG

** 3 of 6 brokerages rate the stock "buy" or higher and 3 "hold"; median PT is $30 - data compiled by LSEG

** As of last close, CNXC down 40.16% YTD

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