Convergys revenue dips 7% to $674 million in Q1

Andrea Ayers, president and CEO of Convergys
Convergys said it posted revenue of $674 million (–7 percent) with operating income of $35 million and net income of $30 million in Q1 2018.

Convergys CEO Andrea Ayers said financial results were impacted by the significant volume fluctuations with a few of its largest clients in the communications and technology industries.

Convergys revenue fell 15 percent in communications business. Convergys revenue dropped 5 percent from technology business. Convergys revenue dropped 4 percent from financial services.

Convergys revenue rose 15 percent from retail business.

Communications $287.2 $336.8 (15 )%
Technology 148.9 156.5 (5 )%
Retail 76.4 66.4 15 %
Financial Services 74.7 77.9 (4 )%
Healthcare 51.4 51.4 — %
Other 35.6 38.6 (8 )%
Total Revenues $674.2 $727.6 (7 )%

Convergys said it implemented actions to streamline operations and position the company for profitable growth and value creation. It has made investment in voice and digital solutions to deliver brand-differentiating customer experiences for clients.

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