MONTREAL - Shares in CGI Group Inc. (TSX:GIB.A) soared more than 13 per cent Tuesday after the information technology services company reported better-than-expected earnings.
On the Toronto Stock Exchange, CGI shares were up $3.72, or 13.76 per cent at $30.75 in morning trading.
CGI said its earned $114.2 million or 36 cents per diluted share in the quarter. That compared with $105.7 million or 40 cents per diluted share in the year-earlier period.
Revenue soared to $2.53 billion from $1,065 billion, reflecting CGI's acquisition last year of Europe-based Logica.
Excluding $81.4 million in integration costs, CGI said it earned an adjusted profit of $175.9 million or 56 cents per share on revenue of $2.53 billion in the three months ended March 31.
Analysts surveyed by Thomson Reuters had, on average, expected the company to earn $151.6 million or 50 cents per share on $2.56 billion un revenue.
During the quarter, the company booked $2.2 billion in new contract wins, extensions and renewals. At the end of March, its backlog of signed orders stood at $18 billion, up $4.9 billion compared with a year ago.
"I am very pleased with our overall performance and with the excellent progress we have achieved in restructuring and transforming our European and Asia Pacific operations," president and CEO Michael Roach said.
CGI has some 69,000 employees and clients around the world.
Note to readers: This is a corrected story: A previous version said earnings per share were six cents