Telus International reports Q3 EPS 3c, consensus 29c

Reports Q3 revenue $663M, consensus $903.27M. Total revenue was negatively impacted by a reduction in service volumes from some of our larger clients delivered primarily out of Europe, particularly our technology clients, as well as a global financial institution client, which were partially offset by increasing revenues from growth in services provided to existing clients, including TELUS Corporation and Google, as well as new clients added since the same period in the prior year. “In the Q3, TELUS International delivered steady year-over-year revenue growth and meaningfully improved profitability from the prior quarter. Our progress on global restructuring programs to better reflect the persistent challenging operating environment has enabled our company to drive meaningful and sustainable cost efficiencies. In parallel, our AI Data Solutions team expanded service volumes with multiple clients, including Google, and further enabled TELUS Corporation’s customer experience digitization strategy,” said Jeff Puritt, President and CEO of TELUS International. “Despite macro conditions that continue to lengthen our sales cycles, our global team remains relentless in their efforts to establish relationships with new clients. During the Q3, we onboarded several new clients, including two US-based firms – an online food ordering and delivery platform and a property and casualty insurance provider, as well as a luxury fashion retailer based in Europe. Just as important, our account teams remained focused on anticipating and meeting the evolving needs of our more than 650 existing clients around the world, growing relationships with many of our large enterprise accounts, including a leading Canadian bank, the world’s largest technology company by revenue, and a leading ride-sharing, food delivery, and freight transport app.”