Computer Sciences Corp. (NYSE: CSC) has reported its first quarter earnings results today. The company saw a profit for the second quarter of $42 million, down 77% from last year's $183 million. The information technology company reported an EPS of $0.26, above estimates of $0.22, but far below last year's $1.17 per share. Revenue fell 2.4% to $3.96 billion, above estimates of $3.89 billion.
Management said that the company has made great strides in the quarter to turn itself around and ensure future success. Despite the negative report, Computer Sciences' stock is currently up over 16% to $29.61.