Cognizant Technology Solutions’ Q2 EPS Tops, Revenues Miss Estimates

Cognizant Technology Solutions (CTSH) released its Q2 results early Thursday, with non-GAAP diluted EPS rising to $1.19 from $0.93 a year ago, which the $1.10 consensus from analysts polled by Capital IQ.

Revenues increased 9.2% year-over-year to $4.01 billion, but were shy of the $4.03 billion CapIQ mean.

For the full-year, Cognizant continues to expect revenues to reach between $16.05 billion and $16.30 billion and non-GAAP diluted EPS to be at least $4.50, a bit higher than its previous estimate of $4.47. Analysts are forecasting revenues of $16.24 billion and adjusted EPS of $4.49.

For Q3, the company expects revenues of $4.06 billion to $4.10 billion and adjusted EPS of at least $1.13. Analysts are forecasting revenues of $4.12 billion and adjusted EPS of $1.14.

Shares were nearly 4% lower in recent pre-market trade.