On Monday, Cognizant Technology Solutions Corp (NASDAQ : CTSH) the
IT, consulting and BPO services provider, reported a higher Q1 profit,
chiefly aided by a revenue surge in all region and segments.
Cognizant's net income grew from last year's $208.33 million or $0.67
per share to $243.65 million or $0.79 per share, in-line with analysts'
expectations from A. On average analysts' expected earnings of $0.79
per share for the quarter. Analysts' estimates typically exclude
one-time items.
Revenue jumped 24.8 percent from $1.37 billion in the previous year
to $1.71 billion last year. It was in-line with analysts' consensus
estimate.
Going forward, to the second quarter of 2012, the company expects
earnings per share to be $0.80, with revenue anticipated to be at least
$1.79 billion. Analysts project earnings of $0.83 per share on $1.84
billion revenue for the quarter. The company also announced an
additional $400 million share buyback program.
Resource link: Cognizant(CTSH) Q1 Profit Rises On Higher Revenues
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