Thoughtworks Holding Increases Earnings Guidance and Narrows Revenue Outlook

by Warren Seah

Shares of Thoughtworks Holding have experienced a significant rise following the company’s announcement of adjusted earnings guidance and a narrowed revenue outlook for the year. The stock has surged by 15% in early trading and has seen a 59% decrease since the beginning of the year.

Updated Adjusted Earnings Expectations

Thoughtworks, a leading technology consultancy, has revised its annual adjusted earnings expectations. The company now anticipates adjusted earnings, which exclude one-time items, to be between 12 cents and 14 cents per share. This is an increase from the previous outlook of 11 cents to 13 cents per share.

Revised Revenue Projection

In addition to adjusted earnings, Thoughtworks has also adjusted its revenue projections for the year. The company now projects revenue to be in the range of $1.139 billion to $1.144 billion, compared to the previous guidance of $1.137 billion to $1.157 billion.

Third Quarter Performance

During the third quarter, Thoughtworks experienced a 16% decrease in revenue to $280.2 million. Despite this decline, it surpassed analyst projections of $277.9 million, according to FactSet.

Thoughtworks posted a quarterly loss of 8 cents per share, an improvement from the 12-cent per-share loss reported in the same quarter last year. Adjusted earnings were 4 cents per share, exceeding analyst forecasts by one cent, as reported by FactSet.

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