Cognizant Technology Solutions Corp. Q4 Profit Decreases, misses estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) reported earnings for fourth quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $521 million, or $1.02 per share. This compares with $576 million, or $1.10 per share, in last year's fourth quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.01 per share for the period.

Analysts on average had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.3% to $4.84 billion from $4.78 billion last year.

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

-Earnings (Q4): $521 Mln. vs. $576 Mln. last year. -EPS (Q4): $1.02 vs. $1.10 last year. -Analyst Estimates: $1.02 -Revenue (Q4): $4.84 Bln vs. $4.78 Bln last year.

-Guidance: Next quarter revenue guidance: $4.71 - $4.76 Bln