Categories Earnings, LATEST, Technology

Earnings Preview: Cognizant’s revenue to grow 8% in Q3

Cognizant Technology Solutions Corporation (CTSH) is set to report third-quarter 2018 earnings results on Tuesday, October 30, before market opens. Wall Street expects the company to report EPS of $1.13, reflecting a year-over-year growth of 12.9%. Revenue is anticipated to grow 8.3% to $4 billion.

Looking at the past four quarters, Cognizant has consistently surpassed estimates on earnings but on revenue, the company has come shy twice. The firm is seeing good demand for its various solutions such as cloud and analytics.

Cognizant’s strategy of acquiring different companies has proved fruitful as these acquisitions have helped the firm boost its cloud portfolio and digital capabilities as well as acquire a large customer base. The technology giant is also focusing its efforts on increasing its strategic client base. However, Cognizant continues to face numerous headwinds such as competitive pressures in the information technology sector.

In the second quarter, Cognizant surpassed earnings estimates but missed on revenues. Revenues grew 9% to $4 billion while earnings grew 28% to $1.19 per share. The company also saw revenue growth across all segments and regions.

For the third quarter, Cognizant provided an outlook for revenues in the range of $4.06 billion to $4.10 billion and EPS of $1.13. For full-year 2018, the company expects revenues of $16.05 billion to $16.30 billion and earnings of at least $4.50 per share.

Looking at the past three months, Cognizant’s shares are down 13% while over the past one month, the stock is down 6%. The stock was down 1.3% as of 2:50 pm ET on Friday.

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

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top