Cognizant Technology Solutions Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Cognizant Technology Solutions Corp. (CTSH) released a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $525 million, or $1.04 per share. This compares with $629 million, or $1.22 per share, in last year's third quarter.

Excluding items, Cognizant Technology Solutions Corp. reported adjusted earnings of $1.16 per share for the period.

Analysts on average had expected the company to earn $1.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $4.90 billion from $4.86 billion last year.

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

-Earnings (Q3): $525 Mln. vs. $629 Mln. last year. -EPS (Q3): $1.04 vs. $1.22 last year. -Analyst Estimates: $1.08 -Revenue (Q3): $4.90 Bln vs. $4.86 Bln last year.

-Guidance: Next quarter revenue guidance: $4.69 - $4.82 Bln Full year EPS guidance: $4.39 - $4.42 Full year revenue guidance: $19.3 - $19.4 Bln