Cognizant Technology Solutions Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $546 million, or $1.10 per share. This compares with $580 million, or $1.14 per share, in last year's first quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.12 per share for the period.

Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.0% to $4.76 billion from $4.81 billion last year.

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

-Earnings (Q1): $546 Mln. vs. $580 Mln. last year. -EPS (Q1): $1.10 vs. $1.14 last year. -Revenue (Q1): $4.76 Bln vs. $4.81 Bln last year.

-Guidance: Next quarter revenue guidance: $4.75 - $4.82 Bln Full year EPS guidance: $4.50 - $4.68. Full year revenue guidance: $18.9 - $19.7 Bln