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Cognizant Technology Solutions Corp. Q2 Profit Increases, beats estimates

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

The company's earnings totaled $577 million, or $1.11 per share. This compares with $512 million, or $0.97 per share, in last year's second quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.14 per share for the period.

Analysts on average had expected the company to earn $1.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $4.91 billion from $4.59 billion last year.

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

-Earnings (Q2): $577 Mln. vs. $512 Mln. last year.
-EPS (Q2): $1.11 vs. $0.97 last year.
-Analyst Estimate: $1.08
-Revenue (Q2): $4.91 Bln vs. $4.59 Bln last year.

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