Cognizant Technology Solutions (Nasdaq: CTSH) reported earnings on May 7. 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 earnings per share.

Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share increased significantly.

Margins dropped across the board.

Revenue details
Cognizant Technology Solutions notched revenue of $1.71 billion. The 21 analysts polled by S&P Capital IQ looked for a top line of $1.71 billion on the same basis. GAAP reported sales were 25% higher than the prior-year quarter's $1.37 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 $0.79. The 23 earnings estimates compiled by S&P Capital IQ averaged $0.79 per share. GAAP EPS of $0.79 for Q1 were 18% higher than the prior-year quarter's $0.67 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 42.5%, 50 basis points worse than the prior-year quarter. Operating margin was 18.6%, 80 basis points worse than the prior-year quarter. Net margin was 14.2%, 100 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.83 billion. On the bottom line, the average EPS estimate is $0.83.

Next year's average estimate for revenue is $7.55 billion. The average EPS estimate is $3.45.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,057 members out of 1,107 rating the stock outperform, and 50 members rating it underperform. Among 282 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 269 give Cognizant Technology Solutions a green thumbs-up, and 13 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 $82.88.

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