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Cognizant: Q1 Earnings Snapshot

TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported first-quarter profit of $662 million.

On a per-share basis, the Teaneck, New Jersey-based company said it had profit of $1.39. Earnings, adjusted for non-recurring costs, came to $1.40 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The information technology consulting and outsourcing firm posted revenue of $5.41 billion in the period, matching Street forecasts.

For the current quarter ending in June, Cognizant said it expects revenue in the range of $5.45 billion to $5.52 billion.

The company expects full-year earnings in the range of $5.63 to $5.77 per share, with revenue ranging from $22.11 billion to $22.64 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

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