Cognizant Tech Solns Q2 Adj $1.10 Beats $0.97 Estimate, Sales $4.89B Beat $4.81B Estimate
Portfolio Pulse from Benzinga Newsdesk
Cognizant Tech Solns (NASDAQ:CTSH) reported Q2 earnings of $1.10 per share, beating the analyst consensus estimate of $0.97 by 13.4%. However, this is a 3.51% decrease from the same period last year. The company also reported quarterly sales of $4.89 billion, beating the estimate of $4.81 billion by 1.58%, but this is a 0.41% decrease from the same period last year.
August 04, 2023 | 12:06 pm
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NEUTRAL IMPACT
Cognizant's Q2 earnings and sales beat estimates but showed a decrease from the same period last year. This mixed result could lead to uncertain market reactions.
Cognizant's Q2 results beat analyst estimates, which is generally a positive signal for the stock. However, the decrease in earnings and sales compared to the same period last year could be a concern for investors, leading to potential uncertainty in the stock's short-term performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100