CGI Earnings Rise Slightly, Beating Expectations
By Robb M. Stewart
CGI posted a slight rise in earnings in the latest quarter, with clients in the industries it serves continuing to face uncertain economic conditions.
The Canadian information technology and software company said Wednesday that its fiscal second-quarter net earnings rose to 426.9 million Canadian dollars ($309.8 million), or C$1.83 a share, from C$419.4 million, or C$1.76, a year earlier.
On an adjusted basis stripping out certain items, earnings per share rose to C$1.97 in the three months to March 31, just ahead of the C$1.95 mean estimate of 10 analysts polled by FactSet.
The Montreal-based company's revenue edged up less than 1% to C$3.74 billion for period, missing the C$3.78 billion expected by analysts. Excluding foreign-currency movements, revenue was stable year-over-year, CGI said.
Bookings at the end of the quarter hit C$3.75 billion, and the company said it had an order backlog valued at C$26.82 billion, or 1.9 times annual revenue.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 01, 2024 07:27 ET (11:27 GMT)
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