Amended: recasts second paragraph to give clear distinction between Income from operations and diluted earnings per share on a non-GAAP basis.
Cognizant Technology Solutions Corp. (CTSH) reported that its third-quarter net income was $136.57 million or $0.45 per share, compared to $112.83 million or $0.38 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.
On a non-GAAP basis, income from operations for the quarter was $172.37 million, compared with $152.80 million in the year-ago quarter. On the same basis, earnings per share totaled $0.48, higher than $0.40 last year.
Revenues for the quarter were $853.49 million, up 16% from $734.73 million in the prior year quarter. Twenty one analysts had consensus revenue estimate of $805.10 million for the quarter.
For the fourth quarter, the company expects GAAP earnings to be $0.45 per share, and non-GAAP earnings to be $0.49 per share. Fourth-quarter 2009 revenue is anticipated to be at least $880 million. Analysts expect the company to report earnings of $0.42 per share on revenues of $829.83 million for the fourth-quarter.
The company raised its fiscal 2009 GAAP earnings outlook to $1.75 per share, from the prior outlook of at least $1.66 per share. The company also raised its fiscal 2009 non-GAAP earnings outlook to $1.88 per share, from the previous outlook of at least $1.80 per share.
For fiscal 2009, revenue is now expected to be at least $3.255 billion, compared to prior guidance of at least $3.14 billion.
Analysts expect the company to report earnings of $1.68 per share, on revenues of $3.16 billion for fiscal 2009.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.