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Convergys abides during challenging Q2

Wed, 07/23/2008 - 8:15am
Brian Santo

Customer management system specialist Convergys, in its second quarter of 2008, eked out a slightly larger profit despite lower sales, compared with the second quarter of 2007.

Revenue was $689.5 million, down from $707 million recorded in Q2 ’07. Second-quarter profit was $40.5 million, up from $38.8 million in the like quarter a year ago. 

The company said it prospered on new business in the cellular market, despite what it called “challenging” macroeconomic conditions, including the economic slowdown and the weakness of the U.S. dollar against other currencies.

The company anticipates overall market conditions will remain soft for the rest of the year, which will take its toll on future earnings. The company hasn’t tweaked its outlook but said it expects its results to come in at the lower end of previous projections.

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• Cisco plunks down $120M to buy Pure Networks

• Amazon, TiVo team on interactive TV shopping

• Goldman Sachs leads funding round for Verimatrix

• Convergys abides during challenging Q2

• Broadcom ups net revenue, income in Q2

• Yahoo limps along through Q2

• Broadband Briefs for 7/23/08

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