Cognizant Technology Solutions Corp. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) announced a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $274 million, or $0.56 per share. This compares with $582 million, or $1.17 per share, last year.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $675 million or $1.39 per share for the period.

Analysts on average had expected the company to earn $1.30 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 7.4% to $5.415 billion from $5.044 billion last year.

Cognizant Technology Solutions Corp. earnings at a glance (GAAP) :

-Earnings: $274 Mln. vs. $582 Mln. last year. -EPS: $0.56 vs. $1.17 last year. -Revenue: $5.415 Bln vs. $5.044 Bln last year.

-Guidance: Next quarter revenue guidance: $5.27 - $5.33 Bln Full year EPS guidance: $5.22 - $5.26 Full year revenue guidance: 21.05 - $21.10 Bln