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Why TaskUs Stock Jumped Today

TheMotleyFool

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Why TaskUs Stock Jumped Today: https://g.foolcdn.com/editorial/images/699810/buy-gettyimages-987070228.jpg

Shares of TaskUs (NASDAQ: TASK) were up 12% as of 3:30 p.m. ET on Wednesday after the provider of digital outsourcing and customer support services announced a $100 million share repurchase program.

TaskUs' stock price is down roughly 70% so far in 2022. Investors hammered its shares after TaskUs cut its full-year revenue forecast in August. Management trimmed its sales outlook to $930 million to $950 million, down from its prior projection of $980 million to $1 billion.

Yet the company's revenue did jump 36.9% year over year, to $246.5 million, in the second quarter. And its new guidance still calls for revenue to grow by approximately 24% in 2022.

Source Fool.com

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