Concentrix Corp (NASDAQ:CNXC), a leading global provider of customer experience (CX) solutions and technology,  stock rose 5.40% (As on March 27, 11:11:13 AM UTC-4, Source: Google Finance) after the company posted mixed results for the first quarter of FY 24. Non-GAAP operating income was $319.1 million, or 13.3% of revenue, compared with $217.6 million, or 13.3% of revenue, in the prior year first quarter. Adjusted EBITDA was $384.3 million, or 16.0% of revenue, compared with $255.8 million, or 15.6% of revenue, in the prior year first quarter. Adjusted free cash flow was a use of $81.3 million in the quarter.

CNXC in the first quarter of FY 24 has reported the adjusted earnings per share of $2.57, missing the analysts’ estimates for the adjusted earnings per share of $2.58. The company had reported the adjusted revenue growth of 46.8 percent to $2.40 billion in the first quarter of FY 24, beating the analysts’ estimates for revenue of $2.38 billion.

The company expects non-GAAP diluted EPS to be in the range of $2.55 to $2.70 for fiscal Q2 on revenue of $2.33 billion to $2.37 billion. Three analysts in a Capital IQ poll expect earnings per share of $2.84 on revenue of $2.38 billion, respectively. Q2 2024 operating income is expected to be in the range of $161 million to $163 million and non-GAAP operating income is expected to be in the range of $320 million to $330 million.

For fiscal 2024, it expects non-GAAP diluted EPS ranging from $11.69 to $12.50 on revenue of $9.51 billion to $9.70 billion. Analysts in a Capital IQ survey are looking for $11.96 and $9.63 billion, respectively. FY 24 Operating income is expected to be in the range of $770 million to $800 million and non-GAAP operating income is expected to be in the range of $1,390 million to $1,450 million.

The company maintained its quarterly dividend at $0.3025 per share, payable on May 7 to shareholders of record on April 26. The Company repurchased 0.2 million shares in the first quarter at a cost of $22.0 million under its previously announced share repurchase program at an average cost of $90.22 per share. At February 29, 2024, the Company’s remaining share repurchase authorization was $267.5 million. The company expects to repurchase $100 million of the common stock over the final three quarters of fiscal 2024.