Syntel Earnings: Here’s Why Investors are Buying Shares Now
Syntel, Inc. (NASDAQ:SYNT) 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 up 2.64%.
Syntel, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.62% to $1.14 in the quarter versus EPS of $1.04 in the year-earlier quarter.
Revenue: Rose 13.14% to $202.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Syntel, Inc. reported adjusted EPS income of $1.14 per share. By that measure, the company beat the mean analyst estimate of $1.06. It beat the average revenue estimate of $197.92 million.
Quoting Management: “We executed well during the second quarter, crossing the $200 million revenue milestone for the first time,” said Syntel CEO and President Prashant Ranade. “We are delivering these results by demonstrating value to our customers each day through our innovation and domain knowledge.”
Key Stats (on next page)…
Revenue increased 7.08% from $189.11 million in the previous quarter. EPS increased 2.7% from $1.11 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.12 to a profit $1.15. For the current year, the average estimate has moved up from a profit of $4.40 to a profit of $4.48 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)