CGI Group Inc. Reports Strong Q1 Earnings, Surpassing Estimates
MONTREAL, Canada – CGI Group Inc. (GIB) released its financial results for the first quarter of fiscal 2023, showing a 1.07% increase in its stock price. The Montreal-based company reported a net income of $313.5 million or $1.37 earnings per share (EPS). Adjusted for non-recurring costs, EPS stood at $1.41, exceeding analysts' estimates of $1.39 per share.
CGI Group's revenue for the quarter reached $2.71 billion, surpassing forecasted estimates of $2.68 billion.
These results highlight the company's solid performance in the IT and business process services sectors, driving its positive market reception.