Cognizant Beats and Raises Guidance

This morning, we got the final earnings report of this season. Cognizant Technology Solutions (CTSH) just posted Q2 earnings of 79 cents per share. That was six cents better than estimates. Revenue rose 22.6% to $3.09 billion.

Cognizant also sees full-year earnings of at least $3 per share. The previous guidance expected earnings of at least $2.93 per share. They’ve already earned $1.50 per share for the first half of this year.

The Company is providing the following guidance:

Third quarter 2015 revenue expected to be at least $3.14 billion.

Third quarter 2015 non-GAAP diluted EPS expected to be at least $0.75.

Fiscal 2015 revenue expected to be at least $12.33 billion, up at least 20.1% compared to 2014.

Fiscal 2015 non-GAAP diluted EPS expected to be at least $3.00.

“Our strong performance has allowed us to raise our full year revenue and EPS guidance for the second time this year, despite the impact to our full year revenues from the announcement that Health Net would be acquired by Centene Corporation,” said Karen McLoughlin, Chief Financial Officer. “During the quarter, we repurchased $153 million of shares, under our existing stock repurchase program, reflecting our strong cash flows and our confidence in the strength of our business.”

The shares are up 5% in pre-market trading.

Posted by on August 5th, 2015 at 7:22 am


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