Cognizant Technology Solutions Corp. Q4 Profit Increases, beats estimates

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

The company's bottom line totaled $576 million, or $1.10 per share. This compares with $316 million, or $0.59 per share, in last year's fourth quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.10 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.4% to $4.78 billion from $4.18 billion last year.

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

-Earnings (Q4): $576 Mln. vs. $316 Mln. last year. -EPS (Q4): $1.10 vs. $0.59 last year. -Analyst Estimate: $1.04 -Revenue (Q4): $4.78 Bln vs. $4.18 Bln last year.

-Guidance: Next quarter revenue guidance: $4.80-$4.84 Bln