Business Companies 03 Nov 2022 Cognizant Q3 profit ...

Cognizant Q3 profit increases

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Nov 3, 2022, 10:05 am IST
Updated Nov 3, 2022, 10:05 am IST
IT major Cognizant Technology Solutions Corp. (CTSH) on Wednesday posted a 15.6 per cent rise in net profit at $629 million in the third quarter of calendar year 2022 (Twitter)
 IT major Cognizant Technology Solutions Corp. (CTSH) on Wednesday posted a 15.6 per cent rise in net profit at $629 million in the third quarter of calendar year 2022 (Twitter)

HYDERABAD: IT major Cognizant Technology Solutions Corp. (CTSH) on Wednesday posted a 15.6 per cent rise in net profit at $629 million in the third quarter of calendar year 2022 compared to $544 million in the yearago period. The company's  revenue increased by 5.6 per cent to $4.86 billion in the period, as against year-ago revenues of $4.74 billion, which fell short of analysts' expectations.

The Teaneck, New Jersey-based company said for the current quarter ending in December, it expects revenue in the range of $4.72 billion to $4.77 billion.

The company expects full-year earnings in the range of $4.43 to $4.46 per share, with revenue expected to be $19.3 billion with a growth of seven per cent, which is lower than the 8.5-9.5 per cent  guidance it gave for the full year in the June quarter.

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