Cognizant Technology Solutions Corp. Q3 Profit Increases, beats estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) revealed a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $629 million, or $1.22 per share. This compares with $544 million, or $1.03 per share, in last year's third quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.17 per share for the period.

Analysts on average had expected the company to earn $1.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.5% to $4.86 billion from $4.74 billion last year.

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

-Earnings (Q3): $629 Mln. vs. $544 Mln. last year. -EPS (Q3): $1.22 vs. $1.03 last year. -Analyst Estimate: $1.16 -Revenue (Q3): $4.86 Bln vs. $4.74 Bln last year.

-Guidance: Next quarter revenue guidance: $4.72 - $4.77 Bln Full year EPS guidance: $4.43 - $4.46 Full year revenue guidance: $19.3 Bln