Concentrix cuts revenue outlook as client AI adoption accelerates

Concentrix forecast a 3% to 5% fourth-quarter revenue decline on a constant-currency basis, pointing to faster client adoption of AI and shifting hyperscaler spending. The customer experience company reported its fiscal third-quarter results on September 29 and lowered full-year revenue guidance to $9.827 billion to $9.877 billion. The quarter produced an operating loss of $910 million, compared with operating income of $147 million a year earlier, and included a $1.05 billion non-cash goodwill impairment charge. Adjusted free cash flow reached a third-quarter record of $218 million. Chief Executive Chris Caldwell said more than 50% of revenue now comes from AI-influenced or newly transformed client programs.