By Adriano Marchese
CGI Inc. on Wednesday reported a better-than-expected rise in profit and revenue in its first quarter.
The Canadian IT and business consulting services firm reported net income of 382.4 million Canadian dollars ($287.4 million), or C$1.60 a share, compared with C$369.4 million, or C$1.49 a share a year earlier.
Adjusted earnings rose to C$1.66 a share. According to FactSet, analysts were expecting C$1.60 a share.
Sales rose to C$3.45 billion from C$3.09 billion the prior year, beating analyst forecasts of C$3.32 billion.
CGI said bookings were at C$4.04 billion, about C$430 million higher on a year-over-year basis. It said this new booking level represents a book-to-bill ratio of 117%, with a backlog of $25.01 billion as of the end of 2022.
Write to Adriano Marchese at adriano.marchese@wsj.com
Corrections & Amplifications
This item was corrected at 10:32 a.m. ET. An earlier version misstated the time period as first quarter, not fourth quarter.
(END) Dow Jones Newswires
02-01-23 0658ET