Aware technology solutions (CTSH Corp.O) reported better-than-expected quarterly results as revenue from Europe excluding Great Britain jumped 54 percent, and the IT service provider, raised its forecast for the year.
The company now expects earnings of at least 2013 $ 3.96 per share on revenue growth of at least 19 percent to 8.74 billion dollars.
It earlier forecast earnings of at least $ per share on revenue growth of at least 17 percent to 8.60 billion dollars.
Aware of the raised forecast is the latest sign that demand for outsourcing and it services can be returned after a quarter marked by uncertainty delayed the deal closing, cutting back on discretionary spending and the lack of big deals.
Rivals India-based Tata Consultancy Services Ltd (TCS. na), Infosys (INFY, Ltd.NS) (INFY.N) and Wipro Ltd. (WIPR.NS) (DIED.N) also reported strong results and prospects, the better than expected last month.
The image fileConscious of the income from the rest of Europe, except Britain rose 153.4 million dollars in the second quarter, accounting for 7 percent of total revenue. It fell by about% a year earlier.
Net income rose to $ 300.4 million, or 99 cents per share, in the second quarter from $ 251.9 million, or 82 cents per share, a year earlier.
Excluding items, earnings were $ 1.07 per share.
Revenue rose 20.4 per cent of 2.16 billion dollars.
Analysts on average had expected profit of 97 cents per share on revenue of $2,13 billion, according to Thomson Reuters I/B/E/S.
Shares of Teaneck, New Jersey were up 1.2 per cent at $ 74.30 Premarket on Tuesday.
Reuters
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