Syntel Earnings: Here’s Why Investors are Happy 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 2.65%.
Syntel, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.27% to $1.11 in the quarter versus EPS of $0.98 in the year-earlier quarter.
Revenue: Rose 10.75% to $189.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Syntel, Inc. reported adjusted EPS income of $1.11 per share. By that measure, the company beat the mean analyst estimate of $1.03. It beat the average revenue estimate of $187.99 million.
Quoting Management: “I am pleased with our revenue performance in this seasonally weak quarter,” said Syntel CEO and President Prashant Ranade. “We are investing in our capabilities and growing our ranks with the aim of enhancing our market position while we pursue our long-term strategic initiatives.”
Key Stats (on next page)…