Cognizant profit beats estimates, cuts outlook   5 comments


Cognizant Technology Solutions Corp posted a better-than-expected quarterly profit, but the IT services provider lowered its full-year forecast on low demand.

The company lowered its full-year adjusted earnings outlook to $3.62 per share on revenue of at least $7.34 billion, from its previous forecast of $3.69 per share in adjusted earnings on revenue of $7.53 billion.

Analysts on average were expecting full-year earnings of $3.45 per share on revenue of $7.54 billion, according to Thomson Reuters I/B/E/S.

“Due to a slower than anticipated acceleration in demand as we entered the second quarter, we are adopting a more conservative stance for the remainder of the year and revising our guidance to at least 20 percent revenue growth for 2012,” Chief Executive Francisco D’Souza said in a statement.

The company sees second-quarter adjusted earnings of 87 cents per share on revenue of at least $1.79 billion.

Analysts had been expecting second-quarter earnings of 83 cents per share on revenue of $1.84 billion.

Indian rivals Wipro Ltd and Infosys Ltd forecast muted revenue growth last month, highlighting the turbulence software exporters face due to an uncertain global economy.

However, rival and India’s top software services exporter Tata Consultancy Services Ltd said it expects to outperform the sector outlook, an indication it is poised to gain at the expense of rival Infosys.

For the first quarter, Cognizant’s net income rose to $243.6 million, or 79 cents per share, from $208.3 million, or 67 cents per share, a year ago.

Excluding items, the company, which gets more than three-quarters of its total revenue from the United States, earned 86 cents per share.

Revenue for the quarter rose 24.8 percent to $1.71 billion from $1.37 billion a year ago.

Advertisements

Posted May 8, 2012 by avinash2060 in Uncategorized

5 responses to “Cognizant profit beats estimates, cuts outlook

Subscribe to comments with RSS.

  1. “http://www.ahmetalicilar.com/blog/view/1259/consider-the-alternatives-to-shaving-when-getting-rid-of-under-the-arm-hairs Thanks for that awesome posting. It saved MUCH time 🙂

  2. Pingback: louis vuitton knockoffs handbags

  3. lave-linge pas cher
    Therefore i’m therefore pleased for ones write-up. Really many thanks! Great.

  4. ndgdo qtoum polo ralph lauren zkjah dsejxu Cognizant profit beats estimates, cuts outlook « Current Affairs – News That Keeps You Intrested ksnjcgr moncler uubopeu bamkr moncler lcyhftag moncler pais ytugrubx doudoune moncler dkjzjkwn

  5. Cognizant profit beats estimates, cuts outlook « Current Affairs – News That Keeps You Intrested nnnnax zlmmqdc iqgybm moncler nheiqku adsawymc giubbotti moncler egojfhc mibvm boots ugg bruxelles bottes ugg pas cher bottes ugg taille grand hgyurayg bottes ugg entretien ugg bottes ugg mode xpmdqgav

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: