Cognizant: Q1 Earnings Snapshot

TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported first-quarter net income of $546 million.

The Teaneck, New Jersey-based company said it had net income of $1.10 per share. Earnings, adjusted for non-recurring costs, came to $1.12 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.

The information technology consulting and outsourcing firm posted revenue of $4.76 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $4.73 billion.

For the current quarter ending in June, Cognizant said it expects revenue in the range of $4.75 billion to $4.82 billion.

The company expects full-year earnings in the range of $4.50 to $4.68 per share, with revenue ranging from $18.9 billion to $19.7 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTSH at https://www.zacks.com/ap/CTSH