TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported first-quarter net income of $663 million.
The Teaneck, New Jersey-based company said it had profit of $1.34 per share. Earnings, adjusted for non-recurring gains, were $1.23 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The information technology consulting and outsourcing firm posted revenue of $5.12 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $5.07 billion.
For the current quarter ending in June, Cognizant said it expects revenue in the range of $5.14 billion to $5.21 billion.
The company expects full-year earnings in the range of $4.98 to $5.14 per share, with revenue ranging from $20.5 billion to $21 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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