Why Cognizant Technology Solutions Stock Triumphed on Thursday
IT services and consulting company Cognizant Technology Solutions (NASDAQ: CTSH) enjoyed a buoyant Thursday on the stock market. The company's shares ended the trading session in positive territory, with a more than 2% rise on the back of a well-received quarterly earnings report. That performance was sufficient to top the S 500 (SNPINDEX: ^GSPC), which crept up by 0.6%.
For its first quarter, Cognizant's revenue totaled almost $5.12 billion, representing a 7.5% gain over the same period of 2024. That was on the back of a 3% improvement in trailing-12-month bookings, to $26.7 billion. Generally accepted accounting principles (GAAP) net income also rose, landing at $663 million from the year-ago $546 million profit. On a non-GAAP (adjusted) and per-share basis, the company's earnings were 10% higher at $1.23.
The two core fundamentals were slightly higher than analysts had anticipated. Those pundits were collectively modeling $5.06 billion on the top line, and $1.20 per share for adjusted profitability.
Source Fool.com
Cognizant Technology Solutions Corp. Aktie
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