Business
TTEC Announces Third Quarter 2023 Financial Results
Third Quarter 2023 Revenue was $603.0 Million, up 1.8 Percent Year-over-YearOperating Income was $25.4 Million or 4.2 Percent of Revenue(Non-GAAP Operating
About this update from Ttec Holdings, Inc.
[{"type":"text","content":"Third Quarter 2023\nRevenue was $603.0 Million, up 1.8 Percent Year-over-YearOperating Income was $25.4 Million or 4.2 Percent of Revenue(Non-GAAP Operating Income was $47.3 Million or 7.8 Percent of Revenue)Net Income was $1.8 Million or 0.3 Percent of Revenue(Non-GAAP Net Income was $22.9 Million or 3.8 Percent of Revenue)Adjusted EBITDA was $63.9 Million or 10.6 Percent of RevenueFully Diluted EPS was $0.04 (Non-GAAP EPS was $0.48)\nUpdates Outlook for Full Year 2023\nDENVER, Nov. 8, 2023 /PRNewswire/ -- TTEC Holdings, Inc. (NASDAQ: TTEC), a leading global CX (customer experience) technology and services innovator for AI-enabled CX with solutions from TTEC Engage and TTEC Digital, announced today financial results for the third quarter ended September 30, 2023.\n\"We delivered against our third quarter plan and continued to support our clients' strategic CX priorities,\" commented Ken Tuchman, chairman and chief executive officer of TTEC. \"However, given the dynamic macroeconomic environment and impact from a select number of our clients, we are moderating our financial outlook for the remainder of the year.\"\n\"We remain keenly focused on delivering high quality services and the leading CX technology solutions for our clients while optimizing costs in our business,\" Tuchman added. \"As we navigate these uncertainties, we remain confident in the attractiveness of the market opportunity, the strength of our client and partner relationships, the dedication of our employees, and our strategy to drive our business forward.\"\nTHIRD QUARTER 2023 FINANCIAL HIGHLIGHTS \nRevenue \nThird quarter 2023 GAAP revenue increased 1.8 percent to $603.0 million compared to $592.5 million in the prior year period.Foreign exchange had a $6.0 million positive impact on revenue in the third quarter of 2023.Income from Operations\nThird quarter 2023 GAAP income from operations was $25.4 million, or 4.2 percent of revenue, compared to $35.6 million, or 6.0 percent of revenue in the prior year period.Non-GAAP income from operations, excluding restructuring and impairment charges, equity-based compensation expenses, amortization of purchased intangibles, and other items, was $47.3 million, or 7.8 percent of revenue, compared to $50.2 million, or 8.5 percent for the prior year period.Foreign exchange had a $1.0 million negative impact on Non-GAAP in...