Core biz delivers for Cognizant, March qtr profit up 9.7%

IT major Cognizant Technology Solutions Corporation has registered a 9.7 per cent jump in its net income at USD 382.9 million for the quarter ended March.

The company had clocked net income at USD 348.9 million a year ago.

Total revenue for the three months grew 20.1 per cent to USD 2.91 billion from USD 2.42 billion in the year-ago period, Cognizant Technology Solutions said in a statement.

On quarterly guidance, it said revenue for the second quarter 2015 is expected to be at least USD 3.01 billion.

Cognizant Chief Financial Officer Karen McLoughlin said, "Our strong revenue performance this quarter versus our guidance was driven primarily by organic growth of our core businesses and is a reflection that our strategy and offerings are resonating with our clients."

"In addition, we are pleased to increase our full-year revenue and earnings per share (EPS) guidance to reflect the overperformance during the first quarter," McLoughlin said.

Cognizant Chief Executive Officer Francisco D'Souza said "The investments we have made in digital-, automation-, utility-based delivery models, consulting and industry-specific expertise are clearly paying off. As a result, we are building deeper relationships with CEOs and boards, CIOs and business and functional leaders to help them transform their businesses into digital enterprises."