After the market close on Tuesday, the Falls Church, VA-based IT services provider reported earnings of 71 cents per share, while analysts were expecting earnings of 69 cents per share.
However, revenue of $1.75 billion missed analysts' forecasts of $1.85 billion. Revenue fell by about 10% year-over-year, which was driven by declines in the company's global business services and global infrastructure services divisions.
"We are seeing strong momentum in our next-generation offerings and a moderation of the headwinds in our legacy business, and we delivered the strongest bookings this quarter in the last two years," CEO Mike Lawrie said in a statement.
So far today, 5.2 million shares of Computer Sciences have traded, versus its 30-day average of 1.95 million shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C. The company's strengths can be seen in multiple areas, such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and poor profit margins.
You can view the full analysis from the report here: CCCSC data by YCharts