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Monday, May 20th 08:03 PM IST
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Cognizant Technology Solutions GALLERY.
Cognizant Technology Solutions reported higher-than-expected quarterly results on increased demand for its outsourcing and consulting services, and the company raised its full-year earnings forecast. Cognizant said it now expects full-year earnings of at least $3.42 per share, up from its previous forecast of at least $3.38 per share. It reaffirmed its revenue forecast of $7.34 billion. Analysts on average expect earnings of $3.39 per share on revenue of $7.34 billion, according to Thomson Reuters data. [caption id=attachment_518312 align=alignleft width=380 Cognizant Technology Solutions repo
Exactly a year after Cognizant overtook Wipro as as the third largest software exporter from India, the New-Jersey based IT firm has now overthrown Infosys as the second largest IT player after TCS in revenue terms in the June quarter. The software company reported a revenue of $1.79 billion (about Rs 9,938 crore) for the April-June quarter this year. The revenue of Infosys for the same period was $1.75 billion (about Rs 9,716 crore). However, the company has to wait till the end of the financial year to see whether it can really cement its place as the second largest IT services provider. But with a bullish annual revenue outlook, Cognizant may remain at the number two spot as Infosys has given a muted guidance of 5 percent growth for the year, given the uncertainty in the global environment. Infosys expects revenues to be $7.343 billion in FY13. Cognizant, most of whose employees are in India, has been gaining ground over Infosys and Wipro as it has traditionally worked with relatively lower margins, helping it win more contracts. The company entered into a $330 million deal in June with the US unit of Dutch insurer ING Group NV to expand the business process management contract between the two. [caption id=attachment_408673 align=alignleft width=380 Exactly a year after Cognizant over
IT major Cognizant Technology Solutions has managed to overtake Infosys as the second largest Indian IT software services in revenue terms, after TCS, as it reported higher profit in the second quarter on increased demand for its outsourcing services. The information technology services provider also raised its full-year adjusted profit forecast. The company now expects full-year adjusted earnings of at least $3.64 per share, up from its previous forecast of $3.62 per share. It reaffirmed its revenue forecast for 2012 of at least $7.34 billion, up 20 percent against last year. [caption id=attachment_407635 align=alignleft width=380 IT major Cognizant Technology Solut
IT major Cognizant reported a higher quarterly profit on increased demand for its outsourcing services. The information technology services provider's net income rose to $251.9 million ( approximately to Rs 14 billion), or 82 cents per share, for the second quarter from $208 million (approximately to Rs 12 billion), or 67 cents per share, a year earlier. [caption id=attachment_407357 align=alignleft width=380 IT major Cognizant reported a highe