Cognizant Technology Solutions Corp. Q2 Profit Increases, Beats Estimates

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

The company's earnings came in at $566 million, or $1.14 per share. This compares with $463 million, or $0.91 per share, in last year's second quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.17 per share for the period.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.8% to $4.85 billion from $4.89 billion last year.

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

-Earnings (Q2): $566 Mln. vs. $463 Mln. last year. -EPS (Q2): $1.14 vs. $0.91 last year. -Revenue (Q2): $4.85 Bln vs. $4.89 Bln last year.

-Guidance: Next quarter revenue guidance: $4.89 - $4.96 Bln Full year EPS guidance: $4.62 - $4.70 Full year revenue guidance: $19.3 - $19.5 Bln