TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported third-quarter net income of $274 million.
On a per-share basis, the Teaneck, New Jersey-based company said it had profit of 56 cents. Earnings, adjusted for non-recurring costs and pretax expenses, were $1.39 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The information technology consulting and outsourcing firm posted revenue of $5.42 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $5.33 billion.
For the current quarter ending in December, Cognizant said it expects revenue in the range of $5.27 billion to $5.33 billion.
The company expects full-year earnings in the range of $5.22 to $5.26 per share, with revenue ranging from $21.05 billion to $21.1 billion.
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