February 8, 2016 7:26 AM | 1 min read |
Shares of
Cognizant Technology Solutions Corp
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(NASDAQ: CTSH) 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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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