Cognizant rise in revenue by 6 percent in Q2 and beat Infosys, TCS [ Current News (Concise) ]
About Cognizant: Cognizant Technology Solutions is an American multinational corporation. It provides routine information technology, accessing, and business process subcontracting services.
- It’s headquarter is in Teaneck, New Jersey and United States.
- Cognizant started to provide servicing to out of country’s clients in 1996.
- Cognizant achieved fast growth during the year 2000 and got the rank in Fortune 500 Company in 2011.
- It named the world’s fourth most admired IT Services Company by the Fortune magazine.
About its growth in second quarter:
- Cognizant Technology Services records 6 percent successive rise in revenues in the June quarter.
- New Jersey - based Cognizant also raised its full - year revenue and profit forecasts by 9.6 percent.
- Cognizant’s exciting results will raise demand for IT services, and raise shares of India - based outsourcers.
- The IT sub - index on the Bombay Stock Exchange also rises by 0.8 percent by beating the broader Sensex.
- Cognizant also raised its estimate for full - year adjusted profit to at least $3.00 per share from $2.93 and its estimate for revenue to at least $12.33 billion, from $12.24 billion.
- Infosys, which had reported 4.5 percent growth in constant currency revenue in the June quarter, it was the top gainer in the 50 - share Nifty. The stock traded 1.3 percent higher.
- Published/Last Modified on: August 7, 2015