CA: Fiscal 1Q Earnings Snapshot
NEW YORK (AP) _ CA Inc. (CA) on Monday reported fiscal first-quarter earnings of $166 million.
On a per-share basis, the New York-based company said it had profit of 40 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 54 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The maker of IT management software for companies posted revenue of $938 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $1.05 billion.
CA shares have increased 32 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 7 percent. In the final minutes of trading on Monday, shares hit $43.89, a rise of 37 percent in the last 12 months.