Cognizant: Q3 Earnings Snapshot

TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported third-quarter profit of $525 million.

On a per-share basis, the Teaneck, New Jersey-based company said it had net income of $1.04. Earnings, adjusted for non-recurring costs, came to $1.16 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The information technology consulting and outsourcing firm posted revenue of $4.9 billion in the period, which met Street forecasts.

For the current quarter ending in December, Cognizant said it expects revenue in the range of $4.69 billion to $4.82 billion. Analysts surveyed by Zacks had expected revenue of $5.05 billion.

The company expects full-year earnings in the range of $4.39 to $4.42 per share, with revenue ranging from $19.3 billion to $19.4 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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