Reported 28 days ago
Capgemini has reduced its 2024 revenue forecast for the second time this year, citing continued weakness in markets such as manufacturing that affected third-quarter sales. The Paris-based IT consulting firm now anticipates a revenue decline of 2% to 2.4%, significantly worse than the previous estimate of 0.5% to 1.5%. Shares dropped by 6.6%, reflecting investor concerns about the company's struggles, particularly in the automotive sector and broader European markets. Despite these challenges, CEO Aiman Ezzat remains optimistic about future profitability improvements driven by demand for AI services.
Source: YAHOO