Business
TTEC Announces Record Third Quarter 2020 Financial Results
Revenue was $493.0 Million, Representing 24.6 Percent Growth Operating Income was $53.4 Million or 10.8 Percent of Revenue ($55.6 Million or 11.3 Percent
About this update from Ttec Holdings, Inc.
[{"type":"text","content":"Revenue was $493.0 Million, Representing 24.6 Percent Growth\n Operating Income was $53.4 Million or 10.8 Percent of Revenue\n ($55.6 Million or 11.3 Percent Non-GAAP)\n Net Income was $21.4 Million ($42.4 Million Non-GAAP)\n Adjusted EBITDA was $77.2 Million or 15.7 Percent of Revenue\n Fully Diluted EPS was $0.45 ($0.90 Non-GAAP)\n Signs Bookings of $170 Million\n Raises Outlook for Full Year 2020\n\n\nDENVER, Nov. 4, 2020 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global Customer Experience as a Service (CXaaS) partner for many of the world's most iconic and disruptive brands, today announced financial results for the third quarter and nine months ended September 30, 2020. \n\"Our record results and business pipeline reflect the heightened demand for customer experience digitization and virtualization solutions across our clients and prospects,\" commented Ken Tuchman, chairman and chief executive officer of TTEC. \"Our ability to rapidly enable large commercial enterprise and government clients with frictionless and fully digitized employee and customer experiences has never been more critical and relevant. We continue to build sustainable momentum with our agile operating model and proprietary Humanify® Cloud Technology Platform.\" \nTuchman continued, \"Our end-to-end approach to designing, building, and operating CXaaS is resonating with organizations that are handling increasingly complex, high-end and mission-critical customer engagement. The market is requiring large brands to make a rapid shift to digital first, fully virtualized customer experience. TTEC has emerged as a partner of choice in this substantial transformation for global enterprise customers.\" \nTHIRD QUARTER 2020 FINANCIAL HIGHLIGHTS \nRevenue \nThird quarter 2020 GAAP revenue increased 24.6 percent to $493.0 million compared to $395.5 million in the prior year period, or 24.1 percent growth in constant currency. Foreign exchange had a $2.0 million positive impact on revenue in the third quarter 2020. Income from Operations\nThird quarter 2020 GAAP income from operations was $53.4 million, or 10.8 percent of revenue, compared to $26.0 million, or 6.6 percent of revenue in the prior year period. Third quarter 2020 Non-GAAP income from operations, excluding $2.2 million in restructuring charges, was $55.6 million or 11.3 percent of rev...