Cognizant Tech Plunges Following Q4 Print, Full Year Guidance

Loading...
Loading...
Shares of
Cognizant Technology Solutions CorpCTSH
fell by more than 6 percent at $55.00 early Monday morning after the company reported its
fourth quarter results
. Cognizant Tech earned $0.80 per share in the fourth quarter on revenue of $3.23 billion. Wall Street analysts were expecting the company to earn $0.78 per share on revenue of $3.24 billion. GAAP net income for the quarter rose to $423.4 million from $362.9 million in the same quarter a year ago but GAAP operating margin fell to 17.1 percent from 19.6 percent a year ago. For the full fiscal year, Cognizant Tech earned $3.07 per share on revenue of $12.42 billion. This compares favorably to the $2.60 per share the company earned in 2014 on revenue of $10.26 billion. "We are pleased with our strong performance in 2015," said Francisco D'Souza, CEO. "At a time when major technology shifts are disrupting all industries, clients are looking to a partner like Cognizant to work with them to create the winning business models of tomorrow at the intersection of the physical and digital worlds. Our investments in disruptive technologies, new business models and best-in-class delivery uniquely position us to enable clients to drive digital transformation at enterprise scale." Looking forward to fiscal 2016, Cognizant Tech expects its full year earnings per share to be $3.32 to $3.44 on revenue of $13.65 billion to $14.2 billion. Wall Street analysts were already projecting the company to earn $3.47 per share on revenue of $14.1 billion.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceFrancisco D'SouzaTechnology EarningsTechnology Stocks
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...