Cognizant cuts 2024 revenue estimate

BENGALURU: Cognizant Technology Solutions has reduced its revenue projection for FY24 to $18.9 billion from $19.7 billion, representing a growth rate of -2% to 2%. This includes a 100-basis-point contribution from acquisitions. The Nasdaq-listed company, which follows a Jan to Dec fiscal, had previously guided for 2024 revenue to be between $19 billion and $19.8 billion.
Cognizant reported subdued financial results for the March quarter, with a revenue of $4.8 billion.This represents a 1.2% constant currency decline compared to the year-ago period. The company’s net profit also decreased by 6% to $546 million for the March quarter.

Leave a Comment

Your email address will not be published. Required fields are marked *