Cognizant reported 3.5% rise in second quarter revenue
Cognizant’s second-quarter revenue rose 3.5 per cent sequentially and the IT company raised the lower-end of its revenue range for the full year. But the company’s headcount fell by over 4,000 employees — the steepest drop among the top Indian IT outsourcers.
Revenue for the second quarter of 2017 rose to $3.67 billion, up 8.9% from $3.37 billion in the second quarter of 2016. The company said it expects revenue growth of 9-10% in 2017. It had previously forecast growth of 8-10%. It also forecast growth of between 1.6-3% for the third quarter.
“Cognizant delivered strong second-quarter results, which reflect our continued progress in helping clients achieve the value of digitizing their entire enterprises, or what we call being digital at scale,” said Francisco D’Souza, Chief Executive Officer. “We remain dedicated to accelerating our shift to digital services and solutions as we continue to invest in our core business and execute our margin improvement and capital return programs.”