TEANECK (dpa-AFX) - Cognizant Technology Solutions Corp. (CTSH) is slated to publish its third-quarter results before the bell on Wednesday, November 3. Analysts polled by Thomson Reuters are estimating earnings of $0.76 per share on revenues of $3.16 billion.
For the third quarter, the company expects adjusted earnings per share to be at least $0.75, and revenue of at least $3.14 billion.
Full-year earnings per share are now estimated to be at least $3.00, and revenues at least $12.33 billion. Wall Street analysts estimate earnings of $3.04 per share and revenues of $12.40 billion. Earlier, the company projected full-year adjusted earnings per share to be at least $2.93, and revenue of at least $12.24 billion.
In the last quarter, the company reported higher profit, supported by a nearly 23% increase in revenues. Both earnings and revenues topped Wall Street estimates.
Net income rose to $420.1 million or $0.68 per share from $371.9 million or $0.61 per share, in the second quarter of 2014.
Adjusted earnings per share were $0.79, while it totaled $0.66 per share last year. On average, 23 analysts polled by Thomson Reuters expected earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue increased 22.6% to $3.09 billion from $2.52 billion last year. Analysts expected revenues of $3.03 billion.
'We are pleased that the significant investments we have made in our workforce over the past year are enabling us to meet the strong demand from our clients to support their innovation initiatives,' said Gordon Coburn, President. 'We continue to optimize our existing services and aggressively invest in new services to enable clients to drive higher levels of operational efficiency. These new solutions, being developed and deployed across all of our major business units, are fundamentally changing business models and economics for clients around the world.'
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