Welcome to our dedicated page for CGI news (Ticker: GIB), a resource for investors and traders seeking the latest updates and insights on CGI stock.
CGI Inc. reports developments in IT and business consulting services across consulting, systems integration, managed IT, business process services and intellectual property solutions. News about CGI commonly covers quarterly results, bookings and backlog, client demand for modernization of mission-critical technology environments, and capital actions such as issuer bids.
Company updates also address AI-enabled services, sovereign cloud and data platforms, SAP operations certifications, and strategic partnerships in sectors such as government, healthcare, critical infrastructure, financial services, manufacturing and utilities. CGI’s model combines local client relationships with a global delivery network across North America, Europe and other markets.
CGI (TSX: GIB.A, NYSE: GIB), a leading IT and business consulting firm, has been selected by the UK Home Office as the Technology Delivery Partner for the Emergency Services Mobile Communications Programme (ESMCP) across England, Scotland, and Wales. This five-year contract is valued at CA$81.2 million. The initiative aims to deliver the Emergency Services Network (ESN), a new communications system for the UK's emergency responders. The ESN will enhance communication capabilities for Fire, Ambulance, and Police services by providing a robust, cost-efficient network that facilitates fast, secure voice, video, and data communication over the 4G network. This collaboration will streamline first response efforts and provide immediate access to critical data in emergencies.
CGI and Nokia have signed an agreement to deepen their strategic partnership, combining 5G private wireless networking technology with CGI business services. This collaboration aims to deliver digital solutions for real-time, data-driven business operations, paving the way for Industry 4.0. The partnership has already seen success in Northern Ireland, with the creation of a cutting-edge 5G testbed for smart manufacturing.
CGI reported strong financial results in the second quarter of Fiscal 2024, with revenue reaching $3.74 billion, up 0.7% year-over-year. Earnings before income taxes grew by 2.3% to $577.4 million, and adjusted EBIT increased by 4.6% to $628.5 million. Net earnings rose to $426.9 million, with diluted EPS reaching $1.83, a 4.0% increase. The company's cash from operating activities stood at $502.0 million, representing 13.4% of revenue. Bookings totaled $3.75 billion, with a book-to-bill ratio of 100.4%. CGI's backlog reached $26.82 billion, with a strong performance across various financial metrics.
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