ECONOMY

Unisys' adjusted earnings top estimates, stock surges

Shares in Unisys Corp. surged on Monday after its adjusted quarterly earnings topped Wall Street expectations.

The information technology service provider reported a loss of $32.7 million, or 65 cents a share, in its first quarter.

But it said its earnings adjusted to exclude pension expenses and charges related to cost cutting amounted to 30 cents a share. Analysts polled by FactSet were expecting 22 cents a share on that basis.

It posted revenue of $664.5 million in the period.

Unisys expects full-year revenue in the range of $2.65 billion to $2.75 billion.

Its stock was up $1.45, or 13 percent, to $12.60 in after-market trading following the release of the earnings report.

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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 UIS at https://www.zacks.com/ap/UIS

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Keywords: Unisys, Earnings Report