Genpact, a leader in business process and digital transformation, announced its second-quarter financial results for the period ending June 30, 2023. The company showcased resilient growth, marked by significant upticks in revenue and net income, while also revising its full-year outlook.
For the second quarter, Genpact reported total revenue of $1.106 billion, reflecting a 2 percent increase year-over-year. The company’s diversified portfolio demonstrated balanced growth, with Data-Tech-AI services contributing $501 million, up 2 percent, constituting 45 percent of total revenue. Additionally, revenue from Digital Operations services reached $605 million, marking a 1 percent increase and representing 55 percent of total revenue.
Genpact’s net income for the second quarter exhibited remarkable progress, soaring by 62 percent year-over-year to reach $116 million.
The company’s upward trajectory was further underscored by its revised outlook for the full year. Genpact now projects total revenue to range between $4.59 billion and $4.64 billion, reflecting a 5.0 percent to 6.0 percent increase. This adjustment surpasses the previous full-year guidance, which ranged from $4.64 billion to $4.71 billion, representing a 6.0 percent to 7.5 percent year-over-year upturn.
“Our strong bookings momentum continued during the second quarter. We currently expect 2023 full-year bookings growth of 25 percent to 30 percent driven by large deal and new logo wins. This positions us for strong top-line growth in 2024 and beyond,” Genpact’s President and CEO, “Tiger” Tyagarajan, said
He further emphasized the strategic priorities guiding Genpact’s success. “Cost reduction and digital transformation continue to remain high priorities for our clients, who are increasingly turning to us to help accelerate their data journeys, paving the way for us to deliver more value to them through AI-augmented, end-to-end services.”
Genpact’s impressive Q2 2023 results underscore its commitment to innovation, client-centric solutions, and sustained growth, positioning the company as a trailblazer in the dynamic landscape of business process and digital transformation.