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Why Syntel Shares Jumped Today

TheMotleyFool

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Shares of Syntel (NASDAQ: SYNT) have jumped today, up by 14% as of 10:45 a.m. EDT, after the company reported fiscal third-quarter earnings. The IT outsourcing posted a healthy beat on both the top and bottom lines.

Revenue in the third quarter fell 4% to $231.3 million, easily ahead of the $218.2 million in sales that analysts were expecting. The company swung to a net profit of $48 million, or $0.58 per share, also topping the consensus estimate of $0.41 per share in profits.

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Source: Fool.com