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Thursday, May 5, 2011
Cognizant Stock Falls After Its Q1 Revenue Merely Meets Views
Tech outsourcer Cognizant Technology Solutions (CTSH) early Tuesday beat profit views and raised its outlook, but shares fell 5.7% as sales barely met forecasts. Cognizant said first-quarter profit jumped 34% from the year-ago quarter to 71 cents per share minus items, 8 cents above the consensus estimate of analysts polled by Thomson Reuters. Sales soared 43% to $1.37 billion, but that just met estimates. The March quarter marked Cognizant's
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