The Business Bytes
TBB BUREAU
MUMBAI, MAY 5, 2022
Nasdaq-listed IT services major Cognizant reported net income of $563 million for the first quarter ended March 31, 2022. Net income was up 11.5 per cent year-on-year, but down from $576 million in the quarter ended Oct-Dec 2021.
Revenue for the first quarter (January-March 2022) rose by 10.9 per cent in constant currency at $4.8 billion.
The company follows Jan-Dec financial calendar.
Cognizant expects its full year revenue guidance to be in the range of 7.2 per cent to 9.2 per cent or 9 per cent to 11 per cent in constant currency.
Brian Humphries, CEO Cognizant said, “Thanks to our talented employees, we delivered on our first quarter commitments in what is an intensely competitive global labor market. While the economic backdrop is uncertain, we remain optimistic about the demand outlook for our solutions. Our strategic repositioning enables us to engage more deeply with clients, helping them succeed, and supports our growth trajectory.”
