Why Syntel Jumped
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What: Shares of Syntel (NAS: SYNT) jumped today by as much as 18% after the company reported first-quarter earnings.
So what: Revenue climbed to $170.7 million, which was a little shy of the Street's expectations. On the other hand, the earnings per share of $0.98 more than made up for it by toppling the consensus estimate of $0.75.
Now what: CEO Prashant Ranade said the company saw stable trends in client spending and plans to continue making additional investments in the business. Looking forward, full-year guidance calls for revenue of $730 million to $755 million with earnings per share between $3.40 and $3.65, which are better than what investors were expecting.
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