Cognizant net profit increases 15.6% YoY, cuts 2022 revenue guidance to 7%
- Nasdaq-listed Cognizant Technology Solutions reported a 15.6% increase in net profit to $629 million for the September quarter from $544 million a year earlier on a 5.6% increase in revenue in constant currency to $4.9 billion. Calendar-year business.
- Teaneck, New Jersey-based corporation projects 2022 revenue to climb 7% in constant currency to $19.3 billion. Its June quarter full-year projection of 8.5-9.5% was lower.
- Adjusted operating margins rose to 16.4% from 15.8%.
- As digital bookings increased, digital revenue gained 7% yearly and accounted for 51% of overall revenues in the September quarter.