Cognizant: Q2 Earnings Snapshot

TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported second-quarter net income of $463 million.

The Teaneck, New Jersey-based company said it had net income of 91 cents per share. Earnings, adjusted for non-recurring costs, came to $1.10 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The information technology consulting and outsourcing firm posted revenue of $4.89 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $4.81 billion.

For the current quarter ending in September, Cognizant said it expects revenue in the range of $4.89 billion to $4.94 billion. Analysts surveyed by Zacks had expected revenue of $5.05 billion.

The company expects full-year earnings in the range of $4.25 to $4.48 per share, with revenue ranging from $19.2 billion to $19.6 billion.

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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