iGATE Earnings: Here’s Why Investors Don’t Like These Results
iGATE Corporation (NASDAQ:IGTE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.88%.
iGATE Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 34.21% to $0.51 in the quarter versus EPS of $0.38 in the year-earlier quarter.
Revenue: Rose 4.42% to $274.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: iGATE Corporation reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $271.85 million.
Quoting Management: Phaneesh Murthy, CEO, iGATE said, “I am pleased to see a steady start to the year. We have made significant investments in sales, marketing and branding in our markets. The pace at which we are adding quality new clients is satisfying.”
Key Stats (on next page)…
Revenue increased 1.22% from $271.58 million in the previous quarter. EPS increased 8.51% from $0.47 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.37 to a profit $0.36. For the current year, the average estimate has moved down from a profit of $1.69 to a profit of $1.65 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)