Cognizant (CTSH) Tops Q2 EPS by 8c, Offers Guidance, Boosts Buyback

Cognizant Technology Solutions (NASDAQ: CTSH) reported Q2 EPS of $0.66, $0.08 better than the analyst estimate of $0.58. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.52 billion.

Cognizant Technology Solutions sees Q3 2014 EPS of at least $0.63, versus the consensus of $0.65. Cognizant Technology Solutions sees Q3 2014 revenue of $2.55-2.58 billion, versus the consensus of $2.66 billion.

Fiscal 2014 revenue expected to be up at least 14% compared to 2013.Fiscal 2014 non-GAAP diluted EPS expected to be at least $2.54 vs consensus of $2.38.

Our Board of Directors approved an increase of the Company's stock repurchase program by $500 million, from $1.5 billion to $2.0 billion, and extended the term of the program to December 31, 2015. Since inception of the program, the Company has repurchased over $1.1 billion of its shares under this program.

For earnings history and earnings-related data on Cognizant Technology Solutions (CTSH) click here.

You May Also Be Interested In

• onsemi downgraded by TD Cowen after Synaptics deal clouds growth story
• Cognizant Technology Solutions (CTSH) PT Lowered to $47 at TD Cowen
• American Outdoor Brands (AOUT) Tops Q4 EPS by 14c