Cognizant posts 12.7% rise in profit

The company marked its fifth consecutive quarter of revenue growth and highest quarterly revenue to date.

Cognizant posts 12.7% rise in profit
For the July-September quarter, the company expects its revenue to be between $4.98 and $5.03 billion, a growth of 7.5-8.5% y-o-y in constant currency.

Cognizant Technology Solutions on Thursday reported a 12.7% increase in its net profit to $577 million on a constant currency year-on-year (y-o-y) basis in the three months to June, regulatory filings showed. The company marked its fifth consecutive quarter of revenue growth and highest quarterly revenue to date. In the same period, the Nasdaq-listed software company’s revenue climbed 9.5% in constant currency to $4.9 billion y-o-y.

For the July-September quarter, the company expects its revenue to be between $4.98 and $5.03 billion, a growth of 7.5-8.5% y-o-y in constant currency. For 2022, it forecast the revenue to be between $19.7 and $19.9 billion, a 8.5% to 9.5% growth in terms of constant currency. Those revenue estimates were down from the $19.8-$20.2 billion range it had guided last quarter, which would have translated to a 9.0%-11.0% increase in constant currency.

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