CHANTILLY, Va. (AP) — CHANTILLY, Va. (AP) — Parsons Corp. (PSN) on Wednesday reported first-quarter profit of $66.2 million.
The Chantilly, Virginia-based company said it had profit of 60 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 78 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The software and infrastructure services provider posted revenue of $1.55 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.61 billion.
Parsons expects full-year revenue in the range of $7 billion to $7.5 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 PSN at https://www.zacks.com/ap/PSN
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