Luxoft: Fiscal 1Q Earnings Snapshot

ZUG, Switzerland (AP) _ Luxoft Holding Inc. (LXFT) on Wednesday reported fiscal first-quarter profit of $4.7 million.

On a per-share basis, the Zug, Switzerland-based company said it had profit of 14 cents. Earnings, adjusted for one-time gains and costs, were 43 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The software and IT company posted revenue of $212.8 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $212.2 million.

For the current quarter ending in October, Luxoft said it expects revenue in the range of $225 million to $230 million.

Luxoft shares have declined 21 percent since the beginning of the year. The stock has declined nearly 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LXFT at https://www.zacks.com/ap/LXFT