Cognizant Q2 revenues up 20.4% to $2.16 billion

Cognizant Technology Solutions revenues rose 20.4 percent to $2.161 billion in Q2 2013 from the year-ago quarter.

The BPO and software major on Tuesday said net headcount addition for the second quarter was approximately 1,600.

For comparison, TCS added 1,390 (10,611 people on gross basis), taking its employee strength to 277,586 at the end of the first quarter of fiscal 2014. ( Employee additions at top IT firms )

Cognizant’s net income rose to $300.4 million from $251.9 million.

For comparison, TCS’ net profit rose to Rs 3,831 crore in Q1 FY 2014 from Rs 3,318 crore. The IT major’s revenues rose 21 percent to Rs 17,987 crore from Rs 14,869 crore.

“Our reinvestment strategy enables Cognizant to excel in core services, while simultaneously investing in multiple horizons of growth, thereby continuing to position us well for the future,” said Cognizant CEO Francisco D’Souza.

Cognizant president Gordon Coburn says clients are turning to Cognizant to address their dual mandate of running better, or enhancing performance in their current businesses, and running different, or helping improve the positioning of their businesses for future success.

Cognizant’s third quarter revenue will be $2.25 billion.

For fiscal 2013, Cognizant is likely to post revenue of $8.74 billion, up 19 percent compared to 2012.

(In thousands)
Three Months Ended June 30, 2013
Growth %
$ % of total Sequential  Year over Year
Revenue by Segment:
Financial Services $    910,707 42.1% 6.5% 23.6%
Healthcare 541,574 25.1% 6.2% 11.8%
Manufacturing/Retail/Logistics  461,594 21.4% 8.4% 28.7%
Other 247,365 11.4% 7.8% 14.8%
Total Revenue $ 2,161,240 7.0% 20.4%
Revenue by Geography:
North America $ 1,677,394 77.6% 6.0% 16.9%
  United Kingdom 233,845 10.8% 8.1% 27.8%
  Rest of Europe 153,383 7.1% 16.3% 53.8%
Europe – Total 387,228 17.9% 11.2% 37.0%
Rest of World 96,618 4.5% 7.0% 24.6%
Total Revenue $ 2,161,240 7.0% 20.4%

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