Computer Sciences reports 3rd-quarter loss of $314 million, misses Wall Street revenue views

Markets Associated Press

Computer Sciences Corp. shares slipped in after-market trading Monday after the company reported quarterly revenue that missed Wall Street estimates.

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The Falls Church, Virginia-based company said it had a fiscal third-quarter loss of $314 million, after reporting a profit of $271 million in the same period a year earlier. On a per-share basis, it lost $2.23 per share in the quarter ended Jan. 2. Earnings, adjusted for non-recurring costs, were $1.18 per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for adjusted earnings of $1.12 per share.

The information technology company posted revenue of $2.95 billion in the period, which missed Street forecasts. Analysts expected $3.18 billion, according to Zacks.

After the release of the report, the stock traded down $5.34, or 8.2 percent, to $59.50.

Through the close of regular-session trading Monday, Computer Sciences shares had risen almost 3 percent since the beginning of the year, while the Standard & Poor's 500 index had declined almost 1 percent.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSC at http://www.zacks.com/ap/CSC

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Keywords: Computer Sciences, Earnings Report