By Adriano Marchese
CGI's profit rose in the first fiscal quarter as sales topped expectations thanks to higher demand for digitization services.
The Canadian IT company posted on Wednesday a rise in net income to 438.6 million Canadian dollars ($304.5 million), or C$1.92 a share for the period ended Dec. 31, up from C$389.8 million, or C$1.67 a share, in the comparable quarter a year ago.
Margin improved over the prior-year period, reaching 11.6%, up from 10.8%.
Adjusted earnings were C$1.97 a share, meeting analyst expectations according to FactSet.
CGI's sales rose to C$3.79 billion from C$3.60 billion. Analysts expected a rise to C$3.78 billion.
Bookings came to C$4.16 billion, down from C$4.19 billion, with a backlog of C$29.77 billion, up from C$26.57 billion.
"Our positioning as a trusted advisor for helping clients achieve outcomes from digitization--including through AI--contributed to bookings of over C$4.1 billion, or 110% of revenue," Chief Executive Francois Boulanger said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 29, 2025 07:09 ET (12:09 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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