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CGI Group posts 1Q profit, results top Wall Street estimates

MONTREAL – MONTREAL (AP) _ CGI Group Inc. (GIB) on Wednesday reported fiscal first-quarter earnings of $178.1 million.

The Montreal-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs, came to 63 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The information technology and business process services company posted revenue of $2.01 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.86 billion.

CGI shares have declined slightly more than 1 per cent since the beginning of the year. The stock has increased 2 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIB at http://www.zacks.com/ap/GIB

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Keywords: CGI Group, Earnings Report