Genpact Reports Total Revenue of $1.18 Billion, Up by 6% in Second Quarter of 2024 Genpact Limited reported gross profit recorded $416 million, up 7 per cent year-over-year, with a corresponding margin of 35.4 per cent
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Genpact Limited , one of the leaders in professional services and digital transformation solutions, continues its growth trajectory, as evidenced by its robust financial results for the second quarter of 2024. The company reported a total revenue of $1.18 billion, marking a 6 per cent increase year-over-year (YoY). The second quarter of 2024 highlights Genpact's ability to consistently outperform market expectations. The company's commitment to its '3+1 Execution Framework' has yielded significant results.
Gross profit was $416 million, up 7 per cent YoY, with a corresponding margin of 35.4 per cent and net income was $122 million, up by 5 per cent YoY, with a corresponding margin of 10.4 per cent. Genpact has raised its earnings expectations for the remainder of 2024. The company's third-quarter revenue is expected to be in the range of $1.18 billion to $1.186 billion, representing a year-over-year growth of approximately 3.9 per cent to 4.4 per cent. The Digital Operations and Data-Tech-AI segments are forecasted to continue their steady growth, with the company expecting gross margins around 35.4 per cent and an adjusted income from operations margin of approximately 17.2 per cent.
"Following another quarter of better-than-expected results and a robust first half performance, we are raising our earnings expectations for the year. Our second quarter results are a testament to the team's ability to successfully deliver on our strategic framework. Looking ahead, we will continue to drive execution and lean into innovation, leveraging generative AI and other advanced technologies to deliver superior value for clients and drive productivity for Genpact," Balkrishan Kalra, Genpact's president and CEO
For the full year 2024, Genpact now projects total revenue to be between $4.656 billion and $4.701 billion, marking an upward revision from its previous guidance. This outlook reflects anticipated YoY growth of four per cent to five per cent (or 4.2 per cent to 5.2 per cent in constant currency). The company also expects to achieve an adjusted diluted earnings per share (EPS) between $3.14 and $3.18, significantly higher than the prior guidance of $3.01 to $3.04.
