Cognizant Technology Solutions (Nasdaq: CTSH) reported earnings on May 8. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Cognizant Technology Solutions met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share expanded significantly.

Margins dropped across the board.

Revenue details
 Cognizant Technology Solutions chalked up revenue of $2.02 billion. The 25 analysts polled by S&P Capital IQ looked for net sales of $2.01 billion on the same basis. GAAP reported sales were 18% higher than the prior-year quarter's $1.71 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.02. The 24 earnings estimates compiled by S&P Capital IQ predicted $0.94 per share. Non-GAAP EPS of $1.02 for Q1 were 29% higher than the prior-year quarter's $0.79 per share. GAAP EPS of $0.93 for Q1 were 18% higher than the prior-year quarter's $0.79 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 40.6%, 190 basis points worse than the prior-year quarter. Operating margin was 18.1%, 50 basis points worse than the prior-year quarter. Net margin was 14.1%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $2.11 billion. On the bottom line, the average EPS estimate is $0.99.

Next year's average estimate for revenue is $8.62 billion. The average EPS estimate is $4.05.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,068 members out of 1,118 rating the stock outperform, and 50 members rating it underperform. Among 275 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 263 give Cognizant Technology Solutions a green thumbs-up, and 12 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cognizant Technology Solutions is outperform, with an average price target of $83.54.

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