PeopleSupport Posts Strong Q3

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Shares in PeopleSupport Inc. soared in after-market trading Tuesday after the company reported surprising earnings on strong sales to established clients.


PeopleSupport Inc. reported third-quarter net income of $6.4 million (27 cents per share) and 81-percent jump from $3.5 million (18 cents) from the same period a year earlier, smashing Wall Street’s expectations of 6 cents per share, according to Thomson Financial.


The tk-based offshore customer management services provider also reported a 23-percent hike in revenues to $37 million, also beating analysts’ expectation of $35 million.


The company attributed the results to growth from established as well as newer clients in the financial services, technology and health care sectors.


PeopleSupport shares closed up 3 percent to $10.91 in regular trading but surged 25 percent to $13.60 after the company announced the earnings.

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