Why Conduent Stock Soared 73% Today After Earnings

Shares of analytics and automation software company Conduent (NYSE: CNDT) were on a tear this morning, up an astonishing 73% at 11:10 a.m. EDT on Friday after the company reported a surprise profit Thursday night. Heading into earnings, analysts had forecast Conduent would report a $0.05 per share loss on sales of $925.5 million for fiscal Q2. In fact, the company earned $0.12 per share (albeit on a pro forma basis), and did more than $1 billion in quarterly sales.