logo
  Join        Login             Stock Quote

Cognizant Q3 Earnings Rise, Guides FY Above View

 November 02, 2011 09:49 AM
 


Cognizant Technology Solutions Corp. (NASDAQ: CTSH) reported higher quarterly profit as revenue rose nearly 32 percent due to higher demand for its services, and the company guided full year above analysts' expectations.

Francisco D'Souza, President and CEO said the company's growth during the quarter "was again broad-based across our portfolio of industries, services and geographies."

On a non-GAAP basis, the information technology consultant said earnings were 80 cents per share, up from 69 cents per share in the year-ago quarter. Analysts, on average, polled by Thomson Reuters expected earnings of 71 cents per share.

[Related -Cognizant Technology Solutions Corp (CTSH): How Penetration Rates Are Faring?]

GAAP net income was $227.1 million or $0.73 per share in the third quarter, compared with $203.7 million or $0.66 per in the third quarter of 2010.

Revenue rose 31.6 percent to $1.6 billion, while analysts expected $1.57 billion.

Looking ahead for the fourth quarter, Cognizant expects non-GAAP earnings of 82 cents a share on revenue of at least $1.66 billion. Analysts expect 75 cents per share on revenue of $1.65 billion.

For the full year, the company expects non-GAAP earnings of $3.05 per share. Revenue is projected to be at least $6.11 billion, up 33 percent from 2010 levels. Analysts expect earnings of $2.80 per share, on revenue of $6.08 billion. CTSH closed Tuesday's regular trading session down 2.5 percent at $70.92. The shares have been trading in the 52-week range of $53.54 to $83.48.

iOnTheMarket Premium
Advertisement

Advertisement


Comments Closed


rss feed

Latest Stories

article imageFord Motor Company (F) Q2 Earnings Preview: Light on the Top Line?

Ford Motor Company (NYSE:F) will release its preliminary second quarter 2014 results at 6:30 a.m. EDT read on...

article imageTripadvisor Inc. (TRIP) Q2 Earnings Preview: On Target Enough?

Tripadvisor Inc. (NASDAQ:TRIP) will release its second quarter financial results after market close on read on...

article imageFacebook Inc. (FB) Q2 Earnings Preview: Scoring Big on the World Cup

Facebook Inc. (NASDAQ:FB) will post its second-quarter 2014 financial results after the market close on read on...

article imageThe Boeing Company (BA) Q2 Earnings Preview: Durable Earnings Beater

The Boeing Company (NYSE:BA) will publish its second-quarter financial results before the open of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.