SynopsisThe Nasdaq-listed company revised its full year revenue forecast to $22.04-22.35 billion, implying 4.4-5.9% growth (4.0-5.5% in constant currency). Its previous projection was $22.11-22.64 billion, or an increase of 4.8-7.3% (4.0-6.5% in constant currency).IT services company Cognizant Technology Solutions reported a fall in net profit for the second straight quarter, hurt by higher income tax expenses and restructuring costs. The US-headquartered firm that has most of its employees based in India also revised its full-year revenue guidance downwards, citing macroeconomic risks.Net profit for the three months ended June 30, the company’s second quarter, dropped 1.4% from a year earlier and 3.9%Now Playing
Cognizant logs marginal dip in Q2 net, revenue rises 4.5% - The Economic Times
The Nasdaq-listed company revised its full year revenue forecast to $22.04-22.35 billion, implying 4.4-5.9% growth (4.0-5.5% in constant currency). Its previous projection was $22.11-22.64 billion, or an increase of 4.8-7.3% (4.0-6.5% in constant currency).
TL;DRAI
Cognizant's profit fell 1.4% YoY in Q2 despite 4.5% revenue growth; full-year guidance revised to $22.04–22.35B (+4.4–5.9%). Outsourcer margin pressure signals potential cost increases; enterprises should anticipate higher vendor pricing in budget and renewal cycles.
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