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CGI profit beats expectations

CGI Group beat analyst estimates in the first quarter with profit rising 14% to C$126.6-million amid increased client project activity and a major U.S. acquisition that contributed to higher revenue.

The Montreal-based IT services company said that its net income was equivalent to 45 cents per diluted share with C$1.12-billion of revenue, which was up 23% from a year earlier. During the quarter, CGI booked C$1.2-billion in new contract wins, extensions and renewals, bringing the total bookings over the last 12 months to C$4.2-billion.

Source: Globe and Mail

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