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Luxoft: Fiscal 2Q Earnings Snapshot

Luxoft: Fiscal 2Q Earnings Snapshot

ZUG, Switzerland (AP) _ Luxoft Holding Inc. (LXFT) on Thursday reported fiscal second-quarter profit of $14.4 million.

The Zug, Switzerland-based company said it had net income of 43 cents per share. Earnings, adjusted for one-time gains and costs, were 74 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The software and IT company posted revenue of $228.4 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $229.4 million.

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For the current quarter ending in January, Luxoft expects its per-share earnings to range from 62 cents to 69 cents.

The company said it expects revenue in the range of $230 million to $235 million for the fiscal third quarter.

Luxoft shares have decreased 30 percent since the beginning of the year. The stock has declined 17 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