Concentrix reported last night that revenue fell 1.2% year over year in the third quarter of its fiscal year. The group also lowered its revenue guidance for the full year. For fiscal 2026, it now expects revenue of between $9.83bn and $9.88bn, compared with its previous range of $9.93bn to $10.03bn.

The outlook provided for the fourth quarter also points to no meaningful improvement in business activity. Profitability was nevertheless slightly above expectations, excluding a new significant impairment charge. Overall, the results therefore provided no real signal of a recovery, fueling market concerns about the sector's trajectory.

In a note on TP, AlphaValue pointed out that the French group had reported a 1.2% decline in revenue in the second quarter and a 1.7% drop for the first half as a whole.

TP still targets growth of between 0% and 2% for 2026 as a whole, an objective that assumes a marked improvement in business activity in the second half.