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Cognizant: Q3 Earnings Snapshot
By AP News - Oct 30, 2024, 04:09 PM ET
Last Updated - Oct 30, 2024, 04:09 PM EDT
TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported third-quarter earnings of $582 million.
On a per-share basis, the Teaneck, New Jersey-based company said it had net income of $1.17. Earnings, adjusted for non-recurring costs, came to $1.25 per share.
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The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The information technology consulting and outsourcing firm posted revenue of $5.04 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $5 billion.
For the current quarter ending in December, Cognizant said it expects revenue in the range of $5 billion to $5.1 billion.
The company expects full-year earnings in the range of $4.63 to $4.67 per share, with revenue ranging from $19.7 billion to $19.8 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTSH at https://www.zacks.com/ap/CTSH
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