Information technology and outsourcing company Cognizant Technology Solutions Corp. said Tuesday its second-quarter profit and sales grew as companies turned to its services to save money.
The company earned $141.3 million, or 47 cents per share, up 36 percent from $103.9 million, or 35 cents per share, in the same period a year earlier.
Revenue rose 13 percent to $776.6 million from $685.4 million. Analysts, on average, were expecting a profit of 37 cents per share on sales of $762 million, according to a poll by Thomson Reuters.
"Large corporations are seeking us out to streamline global delivery, rationalize costs and create new business capabilities," said Francisco D'Souza, president and CEO, in a statement. The company expects third-quarter earnings of 40 cents per share on sales of at least $800 million.
Wednesday, August 5, 2009
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