TP tumbles on 2026 guidance cut, hits bottom of STOXX
** Shares in TP (formerly Teleperformance) TEPRF.PA tumble 16.3% on Friday at 0830 GMT to the bottom of the STOXX 600 index .STOXX after the French outsourcing firm cut its full-year revenue outlook
** TP cited weakness in its trust and safety business, offsetting growth in its AI-powered and back-office services as reasons behind the guidance downgrade
** The firm now expects 2026 like-for-like revenue to decline between 1.5%-2.5%, compared with the previous guidance range of 0%-2% growth
** "Even at the upper end of the range, Q4 is expected to be lower than Q3," TP ICAP Midcap writes in its note to investors
** Broker notes that the new guidance implies a Q4 like-for-like decline of between 1.5% and 4.5%, a "surprisingly wide range" with eight weeks to go until the end of the financial year
** Shares on track for their worst day since August 2025