Cognizant beats quarterly earnings estimates on lower costs [Reuters (UK)]
Cognizant Technology Solutions Corporation - Class A (CTSH)
Last cognizant technology solutions corporation - class a earnings: 2/5 04:01 pm
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Source: Reuters
Cognizant beats quarterly earnings estimates on lower costs - Reuters 1 Min Read (Reuters) - Cognizant Technology Solutions Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, as a trim in its workforce reduced costs, sending shares up about 4%. The company said in October it would cut jobs to invest in growth areas such as cloud and internet of things to cushion the impact from a decline in spending by its financial customers, which Cognizant expected to continue through the second half of 2019. Revenue rose 4% to $4.28 billion in the fourth quarter from a year ago, above analysts’ average estimate of $4.23 billion, according to IBES data from Refinitiv. Net income fell 39% to $395 million. Excluding items, the company earned $1.07 per share, above estimates of $1.04 per share. Reporting by Amal S in Bengaluru; Editing by Shinjini Ganguli All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2020 Reuters
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News
- Cognizant Technology Solutions Co. (NASDAQ: CTSH) was upgraded by analysts at Barclays PLC from an "equal weight" rating to an "overweight" rating. They now have a $95.00 price target on the stock, up previously from $80.00.MarketBeat
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CTSH
Earnings
- 10/30/24 - Beat
CTSH
Sec Filings
- 12/17/24 - Form 4
- 12/10/24 - Form 4
- 12/10/24 - Form 4
- CTSH's page on the SEC website