Concentrix Corp (NASDAQ:CNXC) stock fell 2.49% (As on March 25, 11:21:59 AM UTC-4, Source: Google Finance) after the company missed the earning expectations for the first quarter of FY 26. Non-GAAP operating income of $295.0 million, or 11.8% of revenue, compared with $321.5 million, or 13.6% of revenue in the prior year first quarter. Adjusted EBITDA of $348.2 million, or 13.9% of revenue, compared with $374.2 million, or 15.8% of revenue in the prior year first quarter.

Moreover, the company’s AI-related bookings more than doubled, indicating strong client acceptance and a growing pipeline of opportunities. Revenue from banking and financial services clients grew by 13% year-over-year, showcasing robust performance in this vertical. Concentrix Corp successfully closed close to 60 enterprise iX suite deals, including significant contracts with two Fortune 50 companies. Revenue from the technology and consumer electronics vertical and the healthcare vertical both decreased by about 6%, driven by lighter volumes and shore mix. GAAP results for the first quarter included a $6 million loss on the sale of two small nonstrategic businesses. Adjusted free cash flow was negative $145 million in the quarter, reflecting an increase in accounts receivable. CNXC is experiencing a 2-point headwind from the movement of work offshore, impacting revenue growth.

CNXC in the first quarter of FY 26 has reported the adjusted earnings per share of $2.61, missing the analysts’ estimates for the adjusted earnings per share of $2.65. The company had reported the adjusted revenue growth of 5.4 percent to $2.50 billion in the first quarter of FY 26, beating the analysts’ estimates for revenue of $2.49 billion.

Additionally, the Company has declared a quarterly dividend of $0.36 per share payable on May 5, 2026, to shareholders of record at the close of business on April 24, 2026. The Company repurchased approximately 1 million shares in the first quarter of fiscal year 2026 at a cost of $42.0 million under its share repurchase program at an average cost of $40.06 per share. At February 28, 2026, the Company’s remaining share repurchase authorization was $396.6 million.

For the second quarter, the company expects reported revenue to be between $2.460 billion to $2.485 billion. Operating income to be between $128 million to $138 million.

For the full year, the company expects reported revenue to be between $10.035 billion to $10.180 billion. Operating income to be between $636 million to $686 million.