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Luxoft tops 3Q profit forecasts

ZUG, Switzerland (AP) _ Luxoft Holding Inc. (LXFT) on Tuesday reported fiscal third-quarter earnings of $20.6 million.

The Zug, Switzerland-based company said it had profit of 60 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 89 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The software and IT company posted revenue of $236.6 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $241.8 million.

Luxoft expects full-year earnings in the range of $2.77 to $2.85 per share, with revenue in the range of $900 million to $905 million.

Luxoft shares have decreased slightly more than 4 percent since the beginning of the year. The stock has fallen 12 percent 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 LXFT at https://www.zacks.com/ap/LXFT