Shares in Computer Sciences Corp. shot up nearly 8 percent Tuesday after the information technology services provider announced third quarter earnings that topped Wall Street’s estimates.

Computer Sciences reported net income of $179 million ($1.05 per share,), a 58 percent increase from the same period a year earlier and better than Bloomberg estimates of 99 cents.

Sales for the El Segundo-based information technology giant increased 14 percent to $4.16 billion for the quarter, beating analysts’ forecast of $4.05 billion.

Chief Executive Michael Laphen credited the company’s aggressive acquisition strategy as well as increased cost cutting measures overseas.

For the full year, the company forecast a profit of $3.75 to $3.85 per share, excluding items, on sales of $16.2 billion to $16.5 billion, up 9 percent to 11 percent from the prior year.

Shares in computer Sciences rose 7.7 percent to $45.27 in afternoon trading Tuesday on the New York Stock Exchange.

The company recently announced it would move its corporate headquarters from El Segundo to Virginia.