Cognizant Q1 2014 revenues up 20%, net income surges 23%

IT services vendor Cognizant Technology Solutions today said its first quarter (Q1 2014) revenue rose 19.9 percent to $2.42 billion. Its net income grew 22.8 percent to $348.9 million.

Net headcount addition for the quarter was approximately 7,200, said Cognizant.

Gordon Coburn, president, Cognizant

“We remain confident in the overall demand environment and in our ability to deliver our previously stated revenue guidance of at least $10.3 billion for 2014, up at least 16.5 percent over 2013,” said Gordon Coburn, president, Cognizant.

Cognizant said its second quarter 2014 revenue is expected to be between $2.50 billion and $2.53 billion, while fiscal 2014 revenue expected to be at least $10.3 billion, up at least 16.5 percent compared to 2013.

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