Syntel Q4 Results Narrowly Top Views

Shares of Syntel were slumping pre-market Thursday after the company issued downside guidance on FY17 earnings and revenues while reporting Q4 results which narrowly beat forecasts compiled by Capital IQ. Q4 EPS was $0.57 per share, down from $0.88 per share a year earlier but two cents above the consensus.

Revenues fell to $237.9 million from $254.6 million but were just above the $236.0 million average estimate.

For FY17, the provider of IT and outsourcing services said it expects EPS of $1.75 to $2.00 per share on revenues of $900 million to $945 million. Analysts are expecting revenues of $974.9 million, adjusted EPS of $2.34 per share and GAAP EPS of $2.32 per share.

By Stephen Holmes