CGI reports Q1 profit climbs to $343.5M from $290.2M a year ago, beats expectations

MONTREAL – CGI Inc. topped expectations as it reported its first-quarter profit rose to $343.5 million compared with $290.2 million a year earlier, helped by improved margins and lower restructuring and integration costs.

The technology and business consulting firm says the profit amounted to $1.32 per diluted share for the quarter ended Dec. 31, up from $1.06 per diluted share in the same quarter a year earlier.

Revenue totalled $3.02 billion, down from $3.05 billion.

CGI says the most recent quarter included $3.7 million in acquisition-related and integration costs compared with the same quarter a year earlier that saw $16.5 million in acquisition-related and integration costs and $28.2 million in restructuring costs.

Excluding specific items, CGI says it earned $1.33 per diluted share for its most recent quarter, up from $1.23 per diluted share a year earlier.

Analysts on average had expected an adjusted profit of $1.24 per share, according to financial data firm Refinitiv.

This report by The Canadian Press was first published Jan. 27, 2021.

Companies in this story: (TSX:GIB.A)