CGI, a Canadian information technology consulting and software company, has announced its first-quarter earnings and revenue results, surpassing expectations.
Strong Financial Performance
For the three months ended December 31, CGI reported a net earnings increase to 389.8 million Canadian dollars ($290.9 million), equivalent to C$1.67 per share. This marks a rise from the prior-year period's net earnings of C$382.4 million, or C$1.60 per share.
Adjusted Earnings Beat Expectations
CGI's adjusted earnings, which exclude one-off and exceptional items, reached C$1.83 per share. Analysts on FactSet predicted a rise to C$1.82 per share, making CGI's performance even more impressive.
Revenue Growth
CGI's revenue for the quarter grew by 4.4% to C$3.6 billion, slightly exceeding analyst expectations of C$3.58 billion. When excluding foreign currency fluctuations, revenue still showed a solid 1.5% year-on-year increase.
Robust Bookings
With bookings totaling C$4.19 billion, a year-on-year increase of C$152 million, CGI maintains a book-to-bill ratio of 116.2%. This growth reflects the company's strong market demand for its services.
Success Driven by Outcome-Based Offerings
George Schindler, CEO of CGI, attributes this success to the company's outcome-based offerings, particularly those focused on cost-saving initiatives and expedited modernization, such as leveraging artificial intelligence (AI).
CGI's impressive financial performance sets a positive tone for the company in the year ahead as they continue to deliver impactful solutions for their clients.
Related Articles
![Trans Mountain Pipeline Expansion Update](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Trans Mountain Pipeline Expansion Update
The Trans Mountain Pipeline expansion project in Canada is on track for completion, with a capacity increase and improved access to overseas markets. Despite ch...
![PepsiCo Inc. Stock Downgraded After Strong Rally](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
PepsiCo Inc. Stock Downgraded After Strong Rally
Shares of PepsiCo Inc. take a hit after a downgraded rating by Wall Street's second-biggest bull, expressing concerns over the stock's rally.
![Malaysian Stocks Decline for Third Consecutive Session](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Malaysian Stocks Decline for Third Consecutive Session
Malaysian stocks experience a decline for the third consecutive session. Other markets in Southeast Asia and Asia-Pacific region show mixed performance.