Cognizant Technology Solutions Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $580 million, or $1.14 per share. This compares with $563 million, or $1.07 per share, in last year's first quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.11 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $4.81 billion from $4.83 billion last year.

Cognizant Technology Solutions Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $580 Mln. vs. $563 Mln. last year. -EPS (Q1): $1.14 vs. $1.07 last year. -Analyst Estimate: $1.04 -Revenue (Q1): $4.81 Bln vs. $4.83 Bln last year.

-Guidance: Next quarter revenue guidance: $4.83 - $4.88 Bln Full year EPS guidance: $4.11 to $4.34 Full year revenue guidance: $19.2 - $19.6 Bln