Consulting firm CGI reports third-quarter profit and revenue up from year ago
By The Canadian Press on November 9, 2022.
MONTREAL – CGI Inc. says it earned a fourth-quarter profit of $362.4 million, up from $345.9 million in the same quarter last year as its revenue rose eight per cent compared with a year ago. The business and technology consulting firm says the profit amounted to $1.51 per diluted share for the quarter ended Sept. 30, up from a profit of $1.39 per diluted share in the same quarter last year. Revenue for the three-month period totalled $3.25 billion, up from $3.01 billion a year earlier. The company says its revenue was up 13.9 per cent compared with a year ago, when excluding $177.9 million of unfavourable foreign currency impact. Excluding specific items, CGI says it earned $1.56 per diluted share in its latest quarter, up from $1.40 per diluted share in its fourth quarter last year. Analysts on average had expected a profit of $1.55 per share and nearly $3.21 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv. This report by The Canadian Press was first published Nov. 9, 2022. Companies in this story: (TSX:GIB.A) 9-8
