Cognizant Earns $1.08 per Share

After the bell, Cognizant Technology Solutions (CTSH) reported Q3 earnings of $1.08 per share. That was three cents more than estimates. Revenues rose 4.2% to $4.25 billion. In constant currency, that’s an increase of 5.1%.

“Over the past few months, we’ve sharpened Cognizant’s strategic posture and begun executing plans aimed at improving our competitive positioning,” said Brian Humphries, Chief Executive Officer. “Today we are announcing a simplification of our operating model and a cost reduction program, which will allow us to fund investments in growth. Looking ahead, we see a clear path to unlock the organization’s full growth potential, win in our key digital battlegrounds, and return Cognizant to its historical position of being the bellwether of the IT services industry.”

For Q4, Cognizant sees revenue growth of 2.1% to 3.1% in constant currency. For the full year, CTSH sees earnings between $3.95 and $3.98 per share. That’s an increase of three cents per share to the low end. The guidance implies a Q4 range of $1.02 to $1.05 per share.

Posted by on October 30th, 2019 at 4:41 pm


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