The company’s net income rose to 465.2 million Canadian dollars, or 2.23 dollars a share, compared with 408.6 million dollars in the same period last year. Adjusted earnings reached 2.29 dollars a share, edging past the 2.28 dollars anticipated by analysts. Revenue saw a 2.5% increase, climbing to 4.19 billion dollars from 4.09 billion dollars, slightly exceeding market forecasts.
In section Market Quotes
CGI Profit Climbs on Robust Government Contract Pipeline
With government demand driving a surge in new orders, Montreal-based CGI reported a significant uptick in third-quarter earnings. The IT consulting firm posted a net income of 465.2 million Canadian dollars, comfortably outpacing analyst expectations as its contracted backlog swelled to nearly 32 billion dollars.
Chief Executive Tim Hurlebaus credited the performance to steady government sector wins, which pushed new orders 7% higher than the previous year. This momentum leaves CGI with a total backlog of 31.79 billion dollars, representing 1.9 times the company's annual revenue. Quarterly bookings finished at 4.20 billion dollars, signaling sustained demand for the firm's business consulting services.
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