TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported fourth-quarter net income of $648 million.
On a per-share basis, the Teaneck, New Jersey-based company said it had profit of $1.34. Earnings, adjusted for one-time gains and costs, came to $1.35 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The information technology consulting and outsourcing firm posted revenue of $5.33 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $5.31 billion.
For the year, the company reported profit of $2.23 billion, or $4.56 per share. Revenue was reported as $21.11 billion.
For the current quarter ending in March, Cognizant said it expects revenue in the range of $5.36 billion to $5.44 billion.
The company expects full-year earnings in the range of $5.56 to $5.70 per share, with revenue ranging from $22.14 billion to $22.66 billion.
_____
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