CGI Group grows earnings and revenue to meet analysts’ expectations in Q3

MONTREAL – CGI Group Inc. is reporting hefty third-quarter earnings and revenue growth, largely meeting analysts’ expectations.

The information technology consultancy says it notched net earnings of $309.4 million in the quarter ended June 30, rising more than seven per cent from the same period in 2018.

Revenues grew nearly seven per cent to $3.12 billion year over year, slightly below analysts’ expectations of $3.15 billion.

Excluding non-recurring items, adjusted earnings reached $337.2 million or $1.22 per share, meeting the expectations of analysts polled by financial markets data firm Refinitiv. Adjusted earnings a year earlier stood at $309.7 million or $1.08 per share.

Bookings grew by $2.95 billion in the third quarter, expanding the Montreal-based company’s backlog to $22.42 billion.

Founded in 1976, CGI has about 77,500 employees worldwide.

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