CGI Reports $440.1M Net Earnings for Q3 and Announces Quarterly Dividend

2 min read | July 31, 2024 12:00 AM EDT | By Team Kalkine Media

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CGI Reports $440.1M Net Earnings for Q3 and Announces Quarterly Dividend — Image source: shutterstock.com

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Highlights

CGI Inc. reported third-quarter net earnings of $440.1 million, up from $1.78 to $1.94 per share year-over-year.
Revenue for the quarter increased to $3.67 billion, surpassing last year's $3.62 billion.
CGI announced a quarterly dividend of 15 cents per share and revealed a pending acquisition of tech firm Aeyon.

CGI Inc. reported robust financial results for its third quarter, achieving net earnings of $440.1 million. This represents an increase from the previous year, where net earnings stood at $1.78 per basic share, compared to $1.94 per share this year.

The company’s revenue reached $3.67 billion for the quarter, up from $3.62 billion during the same period last year. This revenue growth underscores CGI’s strong performance in its core business areas. In conjunction with its quarterly earnings report, CGI announced a quarterly cash dividend of 15 cents per share, providing additional value to its shareholders.

Additionally, CGI (NYSE:GIB) used this opportunity to highlight a strategic acquisition. The company’s U.S. subsidiary, CGI Federal Inc., revealed plans to acquire Aeyon, a tech firm specializing in artificial intelligence, data management, and analytics for the American government. Although the financial terms of the deal were not disclosed, it is anticipated to be finalized in the fourth quarter of CGI's fiscal year 2024. This acquisition is expected to enhance CGI’s capabilities and expand its offerings in these critical technology sectors.

Overall, CGI’s quarterly performance and dividend announcement reflect its strong operational results and strategic growth initiatives. The company continues to build on its success and invest in expanding its technological expertise through acquisitions, further positioning itself for sustained growth in the competitive tech industry.

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