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

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

The Canadian Press

May 1, 2019

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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.