Welcome to our dedicated page for GENPACT news (Ticker: G), a resource for investors and traders seeking the latest updates and insights on GENPACT stock.
Genpact Limited (NYSE: G) is a global professional services firm known for its commitment to delivering transformative business outcomes that shape the future. Established as a spin-off from General Electric in 1998, Genpact leverages its deep industry and functional expertise to provide innovative solutions across a range of sectors including banking and financial services, insurance, capital markets, consumer product goods, life sciences, infrastructure, manufacturing, healthcare, and high-tech.
With over 125,000 employees operating in more than 30 countries, Genpact prides itself on its ability to combine process expertise, technology capabilities, and industry knowledge to help clients achieve significant growth, cost efficiency, and business agility. The company’s proprietary digital business platform, Genpact Cora, integrates advanced technologies such as AI and analytics to streamline operations, enhance decision-making, and drive intelligent operations.
Genpact’s impressive client roster includes more than one-fourth of the Fortune Global 500, reflecting its reputation as a trusted partner for large-scale digital transformation projects. The firm’s dedication to operational excellence has led to collaborations with leading technology platforms like Salesforce, Microsoft, and other industry giants. Recent partnerships include a multi-year engagement with Advantage Solutions to implement industry-leading platforms and a strategic collaboration with Tropicana Brands Group to transform global business services and supply chain operations.
Financially, Genpact has demonstrated consistent growth. For the fiscal year ending December 31, 2023, the company reported annual revenue of $4.5 billion, showing a 2% year-over-year increase despite macroeconomic challenges. The company continues to invest in new technologies and innovative strategies to maintain its competitive edge. In May 2024, Genpact announced a $400 million notes offering intended for general corporate purposes, including the repayment of existing debt, which underscores its strong financial management and strategic foresight.
Genpact’s leadership in the industry is further evidenced by its recognition in various assessments, including Everest Group’s PEAK Matrix® Assessment for financial crime and compliance, where it was named a Leader for the fourth consecutive year. This accolade highlights Genpact’s comprehensive capabilities in areas such as anti-money laundering, fraud management, and risk compliance.
Committed to creating a positive impact, Genpact operates with a purpose-driven approach, aiming to build a world that works better for people. This ethos is reflected in every aspect of the company's operations, from its innovative solutions and strategic partnerships to its sustainable business practices.
Genpact (NYSE: G) announced the pricing of a $400 million offering of 6.000% senior notes due 2029 by its subsidiaries, Genpact Luxembourg and Genpact USA. These notes, guaranteed by Genpact, are senior unsecured obligations. The offering is expected to close on June 4, 2024, subject to customary conditions. Proceeds may be used for general corporate purposes, including repaying Genpact Luxembourg's 3.375% senior notes due December 1, 2024.
Rightpoint, a global experience leader and Genpact company (NYSE: G), has launched its Knowledge AI and Search solution. This innovation integrates Microsoft tools, including Azure AI and Microsoft Viva, to enhance productivity and engagement within enterprises. By targeting the inefficiencies that plague office workers, who spend 2.5 hours daily searching for documents, the new solution aims to streamline processes and reduce missed updates. A National Bureau of Economic Research study indicates that this tool could boost productivity by 14%-34%, improving onboarding and efficiency. Rightpoint's latest offering emphasizes AI-driven collaboration, customer satisfaction, and business performance, delivering quick business value. Rightpoint has also been highlighted as Microsoft's US Partner of the Year for Modern Work: Employee Experience in 2023.
Genpact announced a change in the schedule for its presentation at William Blair's 44th Annual Growth Stock Conference. The event is set for June 5, 2024, in Chicago, IL. Balkrishan 'BK' Kalra, President and CEO, will now present at 12:00 PM Central Time. Investors can access a live webcast of the presentation on Genpact's investor page.
A new report by Genpact and HFS Research reveals that enterprises have a two-year window to leverage the full potential of generative AI (gen AI) before falling behind competitors. The study shows that only 5% of enterprises have mature gen AI initiatives while 61% allocate up to 10% of their tech budgets to gen AI. Despite 74% of executives expecting productivity gains, 52% warn against focusing solely on productivity, emphasizing broader business goals. Companies in health care, retail, and high-tech are leading in gen AI investments, reallocating funds towards these initiatives. The report also stresses the importance of data quality and calls for a shift to performance-driven commercial models to fully capitalize on gen AI's benefits.
Genpact (NYSE: G) announced its participation in upcoming investor conferences, including J.P. Morgan 2024 Global Technology, Media, and Communications Conference on May 21, 2024, and William Blair's 44th Annual Growth Conference on June 5, 2024. Balkrishan 'BK' Kalra, President & CEO, will present at both events. Webcasts will be available on Genpact's investor website.
Genpact (NYSE: G) reported total revenue of $1.13 billion, up 4% year-over-year, with diluted EPS of $0.64, up 12%, and adjusted diluted EPS of $0.73, up 7% for the first quarter of 2024. The company's new '3+1 Execution Framework' aims at building stronger partnerships, delivering comprehensive solutions, and enhancing operational efficiency. Genpact's total revenue growth on a constant currency basis, strong financial performance, and updated outlook for 2024 demonstrate promising results and potential growth.
Genpact, in collaboration with AWS, accelerated Revol One Financial's entry into the fixed annuity insurance market by leveraging data, technology, and AI expertise. This partnership resulted in the establishment of a cloud-native entity, enabling Revol One Financial to streamline operations, enhance customer experiences, and drive long-term growth and differentiation. By utilizing AWS services such as Amazon Bedrock, Amazon Connect, AWS CloudTrail, and Amazon OpenSearch Serverless, Revol One Financial has successfully modernized its operations and positioned itself for success in a competitive market.
Genpact (NYSE: G) has declared a cash dividend of $0.1525 per common share for the second quarter of 2024. The dividend will be paid on June 26, 2024, to shareholders of record as of June 10, 2024. The board of directors will decide on future dividends.
Genpact (NYSE: G) collaborates with Microsoft to drive modern finance transformation across enterprises by combining Microsoft Azure OpenAI Service with Genpact's expertise. The collaboration aims to leverage data, technology, and AI to innovate finance organizations globally, enabling quicker decision-making and supporting growth.
FAQ
What is the current stock price of GENPACT (G)?
What is the market cap of GENPACT (G)?
What does Genpact Limited do?
How many employees does Genpact have?
What are some recent achievements of Genpact?
What is Genpact Cora?
Who are some of Genpact’s clients?
What are Genpact’s financial highlights for 2023?
Where is Genpact headquartered?
What is the purpose of Genpact’s recent $400 million notes offering?
What industries does Genpact serve?
What recognition has Genpact received for its services?
