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MARKETS LIVE BLOG:

STOCK FUTURES SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Stocks in play: CGI Inc.

Baystreet.ca

Reported fiscal 2019 fourth-quarter revenue of $2.96 billion, an increase of $160.3 million or 5.7% compared with the same period last year. On a constant currency basis, revenue grew by 7.7% as foreign exchange fluctuations unfavourably impacted revenue by $56.3 million. Adjusted EBIT was $457.5 million or 15.5% of revenue, an increase of $21.7 million from the year ago period. Net earnings were $324.1 million, up 10.4% and representing a margin of 11.0%, an increase of 50 basis points over the same period last year. Earnings per diluted share were $1.19, up 16 cents or 15.5% from 1.03 cents last year. CGI Inc. shares T.GIB.A are trading up $2.01 at $104.07.

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