Cognizant: Q3 Earnings Snapshot

TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Thursday reported third-quarter profit of $627 million.

On a per-share basis, the Teaneck, New Jersey-based company said it had profit of $1.39. Earnings, adjusted for one-time gains and costs, came to $1.49 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.

The information technology consulting and outsourcing firm posted revenue of $5.66 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $5.65 billion.

For the current quarter ending in December, Cognizant said it expects revenue in the range of $5.49 billion to $5.57 billion.

The company expects full-year earnings in the range of $5.72 to $5.79 per share, with revenue ranging from $22.05 billion to $22.14 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