07:26 AM EST, 01/29/2025 (MT Newswires) -- CGI (GIB-A,TO) on Wednesday reported higher adjusted profit and revenue for the first quarter that met forecasts.

Adjusted net earnings rose 5.1% to $449 million, or $1.97 per diluted share, from $427.2 million, or $1.83 per diluted share. Analysts polled by FactSet expected $1.97.

Revenue of $3.8 billion was 5.1% higher than the previous year's figure, and just above the FactSet forecast of $3.78 billion.

The company also said it will buy back up to 20.2 million shares, or 10% of its public float in a new current normal course issuer bid that begins Feb. 6. The current buyback will end on Feb. 5.

Separately, CGI reported the appointment of current board co-chair Julie Godin as Executive Chair, with CGI founder Serge Godin as board Co-Chair. Godin will focus on transformational acquisitions for CGI and on large-scale engagements with clients.

The company also said it has acquired BJSS, a UK-based technology and engineering consultancy. The transaction is is expected to close in February.

CGI was last seen up US$0.46, to US$114.91, in New York trading.