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Cognizant: 1Q Earnings Snapshot

TEANECK, N.J. (AP) _ Cognizant Technology Solutions Corp. (CTSH) on Thursday reported first-quarter earnings of $441 million.

On a per-share basis, the Teaneck, New Jersey-based company said it had net income of 77 cents. Earnings, adjusted for one-time gains and costs, came to 91 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The information technology consulting and outsourcing firm posted revenue of $4.11 billion in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $4.17 billion.

Cognizant expects full-year earnings in the range of $3.87 to $3.95 per share.

Cognizant shares have increased nearly 5% since the beginning of the year, while the Standard & Poor's 500 index has climbed 16%. In the final minutes of trading on Thursday, shares hit $66.57, a decline of 18% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTSH at https://www.zacks.com/ap/CTSH