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Convergys misses Street 4Q forecasts

CINCINNATI (AP) _ Convergys Corp. (CVG) on Wednesday reported fourth-quarter net income of $17.5 million.

The Cincinnati-based company said it had profit of 17 cents per share. Earnings, adjusted for non-recurring costs, came to 47 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The customer management company posted revenue of $757.9 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $767.7 million.

For the year, the company reported profit of $143 million, or $1.40 per share. Revenue was reported as $2.91 billion.

Convergys shares have increased 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.05, a rise of almost 1 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVG at https://www.zacks.com/ap/CVG


Keywords: Convergys, Earnings Report