Cognizant: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 04:12 PM ET
Last Updated - Jun 21, 2023, 11:18 PM EDT
TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported first-quarter earnings of $580 million.
The Teaneck, New Jersey-based company said it had profit of $1.14 per share. Earnings, adjusted for non-recurring gains, were $1.11 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The information technology consulting and outsourcing firm posted revenue of $4.81 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $4.74 billion.
