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Cognizant Technology Solution Corporation has raised the net profit of 11.5 per cent YOY to $563 million; in the consecutive Q4 of revenue growth is highest ever that is $4.8 billion. Compactly, in the last quarter, TCS revenue grew 14.3 per cent in constant currency from a year to $6.7 billion. Also, Infosys Ltd grew 20.6 per cent to $4.3 billion.
Teaneck, New Jersey-based Cognizant revised its full-year 2022 revenue growth guidance to 9-11 per cent in constant currency at $19.8-20.2 billion, which includes an improved organic revenue growth and a lower inorganic contribution, reflecting a disciplined acquisition strategy. In the fourth quarter, it had projected 8.5-11.5 per cent revenue growth for 2022 to $20.0-20.5 billion.
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The company’s digital revenue grew 20 per cent annually and contributed 50 per cent to total revenues for the March quarter, representing a continued demand environment as digital technologies become increasingly mainstream. It continues to focus on its ‘digital battleground’ areas of digital engineering, artificial intelligence (AI) and analytics, cloud, and the internet of things (IoT).
In the statement of Brian Humphries, CEO of Cognizant, “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.”
