taskus inc shares were down 15 to 1982 tuesday after its quarterly earnings beat analyst expectations but the company reiterated its full year guidance the provider of digital outsourced services after the bell monday reported firstquarter revenue increased 57 to 2397 million which beat the factset consensus forecast for 2311 million adjusted earnings of 34 cents a share beat the factset consensus of 30 cents taskus reiterated its full year 2022 guidance for revenue of between 980 million and 1 billion representing about 30 growth at the midpoint and an adjusted earnings before interest taxes depreciation and amortization margin of about 23 although we are off to a very strong start for the year the current environment is volatile since our last call weve seen several of our clients in the high growth technology space quickly shift their focus to reducing cost chief executive bryce maddock said during the companys conference call the operating environment has led to an acceleration in client demand for in offshore work and a decrease in demand for onshore work he said weve also seen a number of additional clients shift existing work being done onshore to our offshore delivery locations mr maddock said the ceo said that geographic shifts will have some impact on revenue in the near term but clients increased focus on costs creates an opportunity to work with clients on efficiency these geographic shifts will lead to some employee layoffs in the us mr maddock said morgan stanley analysts said in a research report that outperformance in the first quarter was overshadowed by a prudent reiteration of the 2022 outlook given the potential for macrodriven volatility for certain customers that said we remain constructive around tasks ability to maintain industry leading growth through increased volume from new and existing customers morgan stanley said in the note morgan stanley said it remains overweight on the stock and lowered its price target to 35 a share from 60