Cognizant jumps on Q1 results

Investor's Business Daily

The global IT consulting and outsourcing firm reported Q1 revenue that beat analyst forecasts and in-line EPS. Sales rose 18% to $2.02 bil vs. analyst projections of $2 bil. EPS ex items climbed 23% to 93 cents, matching the consensus of 27 analysts polled by Thomson Reuters. Cognizant (CTSH) expects EPS to rise 29% this quarter to $1.06 on revenue of $2.13 bil. Analysts were looking for 97-cent profit and $2.11 bil sales. It said it's seeing stronger demand for services across the board. Shares rose 5% to 68.15.

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