Cognizant Technology Solutions Corp. Q1 Profit Increases, beats estimates

Cognizant Technology Solutions Corp. (CTSH) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $563 million, or $1.07 per share. This compares with $505 million, or $0.95 per share, in last year's first quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.08 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.8% to $4.83 billion from $4.40 billion last year.

Cognizant Technology Solutions Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $563 Mln. vs. $505 Mln. last year.
-EPS (Q1): $1.07 vs. $0.95 last year.
-Analyst Estimate: $1.04
-Revenue (Q1): $4.83 Bln vs. $4.40 Bln last year.

Next quarter revenue guidance: $4.90 - $4.94 Bln
Full year EPS guidance: $4.45 - $4.55
Full year revenue guidance: $19.8 - $20.2 Bln

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