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Cognizant: Q1 Earnings Snapshot
By AP News - 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.
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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.
For the current quarter ending in June, Cognizant said it expects revenue in the range of $4.83 billion to $4.88 billion. Analysts surveyed by Zacks had expected revenue of $5.05 billion.
The company expects full-year earnings in the range of $4.11 to $4.34 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CTSH">Zacks stock report on CTSH at https://www.zacks.com/ap/CTSH
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