Teleperformance SE Q2 2026 Earnings Recap

The stock rallied 9.5% following TP’s earnings, reflecting investor approval of the sequential revenue improvement and reassuring guidance confirmation, particularly highlighting growth in the Core Services division and acceleration in AI-powered service lines.

Key Takeaways

• Like-for-like revenue decline narrowed from -2.2% in Q1 to -1.2% in Q2, suggesting positive momentum after earlier weakness.
• Excluding Trust and Safety, group like-for-like revenue rose 1.7%, driven by a 2.3% increase in Core Services.
• EBITA was stable year-over-year, supported by SG&A controls and internal AI-driven efficiency programs.
• Net free cash flow before restructuring increased to approximately EUR 299 million, indicating solid cash generation.
• Efficiency savings target was raised to between EUR 150 million and EUR 170 million, with restructuring costs increasing accordingly to EUR 120–140 million.