Categories Earnings, Technology

Earnings: Cognizant Technology disappoints in Q1, cuts FY guidance

Shares of Cognizant (NASDAQ: CTSH) fell 1.6% after the IT services firm reported first-quarter earnings of $0.91 per share, missing the street view of $1.03 per share. Revenues came in at $4.11 billion, up 5% year-over-year. However, analysts had projected revenues of $4.17 billion.

On a reported basis, the company posted a net profit of $441 million, or $0.77 per share, compared to $520 million, or $0.88 per share in the year-over period.

Cognizant Technology posts disappointing in Q1 2019 results

The stock has declined 11% in the trailing 52 weeks. Since the start of this year though, the stock has somewhat recovered, gaining 14%.

Brian Humphries, who took charge as Cognizant CEO on April 1, said, “While I am encouraged by our client centricity, our employees’ winning spirit, and our innovation, we are not yet delivering against the market opportunity.”

The company expects the ongoing execution of its long-term strategy to drive revenue and earnings growth in the current fiscal year. However, a weak first quarter forced the company to slash its full-year guidance.

READ: IMMUNOGEN IS CHEAP AHEAD OF EARNINGS, BUT IS IT WORTH?

The outlook for full-year revenue growth was slashed to 3.6% to 5.1%, from the prior guidance range of 7% to 9%. Full year adjusted EPS is now expected in the range of $3.87-$3.95, compared to the earlier projection of $4.40.

Meanwhile, the growth forecast for the second quarter was projected between 3.9% and 4.9%.

CFO Karen McLoughlin said, “Our revised full-year outlook reflects the first-quarter underperformance and expectations of slower growth in Financial Services and Healthcare for the remainder of 2019.”

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Comments

  1. Pingback: teak furniture
  2. Pingback: ไฮโล
  3. Pingback: Heavy R
  4. Pingback: ff tools
  5. Pingback: ff tools hack apk
  6. Pingback: zwitsal
  7. Pingback: hetkruideniertje
  8. Pingback: bauck
  9. Pingback: Thoptv
  10. Pingback: FFH4X APK
  11. Pingback: enlevement epave
  12. Pingback: Epaviste gratuit
  13. Pingback: Epaviste
  14. Pingback: Epaviste gratuit
  15. Pingback: Epaviste gratuit
  16. Pingback: Epaviste gratuit
  17. Pingback: Epaviste gratuit
  18. Pingback: enlevement epave
  19. Pingback: enlevement epave
  20. Pingback: enlevement epave
  21. Pingback: sexy
  22. Pingback: naza
  23. Pingback: เว็บ123
  24. Pingback: sa casino
  25. Pingback: Dispensary near me
  26. Pingback: ps5 for sale
  27. Pingback: Weed Delivery
  28. Pingback: WordPress Hosting
  29. Pingback: Epaviste
  30. Pingback: Epaviste gratuit
  31. Pingback: épave automobile
  32. Pingback: Kindness
  33. Pingback: berry pie strain
  34. Pingback: thc edibles
  35. Pingback: FLINTLOCK PISTOL
  36. Pingback: Ihone Wallpaper
  37. Pingback: chitchat
  38. Pingback: Buy This Domain
  39. Pingback: buy 5-meo-dmt usa
  40. Pingback: classic books
  41. Pingback: convention models
  42. Pingback: Trade show models
  43. Pingback: Qualified Writings
  44. Pingback: Black Lebel
  45. Pingback: Buy This Domain
  46. Pingback: สล็อต
  47. Pingback: Konga
  48. Pingback: Infinix Phones
  49. Pingback: fast typing speed
  50. Pingback: russkaya reklama
  51. Pingback: learn Russian
  52. Pingback: slayer sneakers
  53. Pingback: slayer sneakers
  54. Pingback: slayer sneakers
  55. Pingback: w320axgf-9-bxr3-r2
  56. Pingback: lowes maui
  57. Pingback: bathroom tile
  58. Pingback: tile lowes
  59. Pingback: Buy Crack Online
  60. Pingback: dermalinfusion uk
  61. Pingback: cavitation machine
  62. Pingback: adonyss
  63. Pingback: hydrolux machine
  64. Pingback: facial machines
  65. Pingback: political news
  66. Pingback: Trending news
  67. Pingback: Business news
  68. Pingback: Business news
  69. Pingback: sports news
  70. Pingback: disclaimer
  71. Pingback: find out this here
  72. Pingback: published here
  73. Pingback: american diploma
  74. Pingback: igcse
  75. Pingback: Glock 17 for Sale
  76. Pingback: 45 ACP Ammo
  77. Pingback: Colt 1911 for Sale
  78. Pingback: 9mm Ammo
  79. Pingback: Guns on Sale
  80. Pingback: SpytoStyle.Com
  81. Pingback: SpyToStyle
  82. Pingback: SpyToStyle
  83. Pingback: lmhmod
  84. Pingback: 88vin.shop
  85. Pingback: g88vin
  86. Pingback: ban ca h5
  87. Pingback: sieuno
  88. Pingback: phim so em xui
  89. Pingback: Game bài
Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top