CGI profit rises to $318.3M as revenue improves in second quarter

The Canadian Press

George Schindler, president and CEO of CGI Group Inc., arrives for the company's annual shareholders meeting in Montreal on Wednesday, January 30, 2019. , THE CANADIAN PRESS/Paul Chiasson

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MONTREAL -- CGI Inc. (GBIa.TO) reported a second-quarter profit of $318.3 million, up from $274.4 million a year earlier, as revenue improved.

The technology consulting firm says the profit amounted to $1.14 per diluted share for the three months ended March 31, up from 94 cents per diluted share a year ago.

Revenue totalled $3.07 billion, up from $2.95 billion in the same quarter last year.

Excluding specific items, CGI says it earned $324.5 million or $1.17 per diluted share for its most recent quarter compared with a profit of $303.2 million or $1.04 per diluted share a year earlier.

Analysts on average had expected a profit of $1.17 per share and $3.06 billion in revenue for the quarter, according to Thomson Reuters Eikon.

Earlier this year, CGI acquired Swedish technology consulting company Acando in a deal it valued at $614.7 million, including debt.