DOW JONES NEWSWIRES Cognizant Technology Solutions Corp.'s (CTSH) third-quarter profit rose 21% as results topped analysts' expectations amid a surge in demand. Shares jumped 3.1% to $40 in premarket action. The provider of information technology, consulting and business-process outsourcing also upped its 2009 forecast, saying it expects earnings of $1.88 a share on revenue of at least $3.26 billion. The company had previously forecast earnings of at least $1.66 on $3.14 billion in sales. It also expects to earn 49 cents this quarter on revenue of at least $880 million. Analysts' average estimates, according to a survey by Thomson Reuters, were 42 cents and $830 million, respectively. Meanwhile, Cognizant reported third-quarter earnings of $136.6 million, or 45 cents a share, up from $112.8 million, or 38 cents, a year earlier. Excluding stock-compensation and other impacts, earnings rose to 48 cents from 40 cents. Revenue rose 16% to $853.5 million. Analysts polled by Thomson Reuters had most recently forecast earnings of 41 cents on $806 million in sales. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;
