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IGATE Corp. (IGTE) Broke Out To A New High On Q1 Results

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iGATE Corp. (IGTE: Quote) reported first quarter adjusted EPS of $0.38 Friday morning, up from $0.23 in the previous year. The consensus estimate was for EPS of $0.32. Revenues surged to $263.27 million from $75.8 million last year, but were below analysts' estimate of $270.27 million.

iGATE rose sharply in early trade Friday and climbed further late in the morning. The stock ended the day higher by 1.95 at $19.12, with volume, with volume at an 8-month high. iGATE broke out of a 2 1/2 month range and set an 11-month high.

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by RTT Staff Writer

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