U.S. Markets closed

Luxoft tops 3Q profit forecasts

ZUG, Switzerland (AP) _ Luxoft Holding Inc. (LXFT) on Tuesday reported fiscal third-quarter earnings of $18.5 million.

On a per-share basis, the Zug, Switzerland-based company said it had profit of 55 cents. Earnings, adjusted for one-time gains and costs, were 82 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The software and IT company posted revenue of $206.9 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $209.1 million.

Luxoft shares have risen nearly 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $60.45, a climb of 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


Keywords: Luxoft, Earnings Report