BANGALORE, INDIA: Cognizant Technology Solutions Corp posted third-quarter results that blew past market expectations, helped by strong growth across all industry sectors and geographies, and raised its outlook for the year.

The news, which sent its shares up 5 per cent in trading before the bell, comes on the heels of an impressive display by its India-based rivals such as Tata Consultancy, Infosys Technologies and Wipro.

The results suggest a rebound at financial services, the company's biggest segment that contributed 43 per cent to its second-quarter revenue, and healthcare, another key segment.

Geographically, about 80 per cent of its revenue comes from North America.

Third-quarter net income rose to $136.6 million, or 45 cents a share, from $112.8 million, or 38 cents a share, a year earlier. Excluding items, earnings were 48 cents a share.

Revenue rose 16 per cent to $853.5 million.

Analysts expected earnings of 41 cents a share, excluding exceptional items, on revenue of $805.6 million, according to Thomson Reuters I/B/E/S.

For 2009, the company forecast earnings of $1.88 a share, excluding items, on revenue of at least $3.26 billion. It had earlier forecast earnings of at least $1.80 a share on revenue of at least $3.14 billion.

For the fourth quarter, the company forecast earnings of 49 cents a share, excluding items, on revenue of at least $880 million.

Analysts were looking for fourth-quarter earnings of 42 cents a share, excluding exceptional items, on revenue of $830.5 million.

Shares of Cognizant, which also competes with larger players like Accenture, Hewlett-Packard and IBM, were up $1.99 at $40.79 in trading before the bell. They closed at $38.80 Monday on Nasdaq. They have gained 28 per cent in the last three months and 114 per cent since the start of the year.