CA Q1 Profit Tops Estimate; Revenue Misses

(RTTNews) - CA, Inc. (CA) reported net income for the first quarter of $212 million or $0.48 per share, compared to $217 million or $0.49 per share for the prior year quarter.

Income from continuing operations for the first quarter of $207 million or $0.47 per share, compared to $212 million or $0.48 per share for the year-ago quarter.

Excluding items, adjusted income from continuing operations for the first quarter was $283 million or $0.64 per share, compared to $289 million or $0.65 per share in the prior year quarter.

Revenue for the first quarter fell 9% to $977 million from $1.07 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenue of $990.18 million for the first quarter. Analysts' estimates typically exclude special items.

For the fiscal year 2016, the company now forecasts revenue of $4.04 billion to $4.11 billion and adjusted earnings per share from continuing operations of $2.37 to $2.44. Previously, the company forecast revenue of $3.95 billion to $3.99 billion and adjusted earnings of $2.38 to $2.45 per share .