Cognizant: Q4 Earnings Snapshot

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TEANECK, N.J. (AP) — TEANECK, N.J. (AP) — Cognizant Technology Solutions Corp. (CTSH) on Wednesday reported fourth-quarter profit of $546 million.

The Teaneck, New Jersey-based company said it had net income of $1.10 per share. Earnings, adjusted for one-time gains and costs, were $1.21 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The information technology consulting and outsourcing firm posted revenue of $5.08 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $5.06 billion.

For the year, the company reported profit of $2.24 billion, or $4.51 per share. Revenue was reported as $19.74 billion.

For the current quarter ending in March, Cognizant said it expects revenue in the range of $5 billion to $5.1 billion.

The company expects full-year earnings in the range of $4.90 to $5.06 per share, with revenue ranging from $20.3 billion to $20.8 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTSH at https://www.zacks.com/ap/CTSH