Cognizant Technology third quarter revenue rose 21.9 percent to $2.31 billion from the year-ago quarter.
Net headcount addition for the quarter was approximately 2,100, said Cognizant.
Net income increased to $319.6 million from $276.9 million. Operating margin for the quarter was 19.0 percent.
Francisco D’Souza, CEO of Cognizant, said that change in the industries is driving the C-suite to challenge the status quo and rethink their business models to be relevant for the future.
Industry verticals such as — Financial Services (+21 percent), Healthcare (+24 percent), Manufacturing/Retail/Logistics (+24 percent) – have contributed to the growth in revenue of Cognizant.
On geographical basis, revenue in North America rose 18.5 percent, U.K. 26 percent, rest of Europe 57 percent and Europe 37 percent.
Cognizant president Gordon Coburn said the company’s performance during the third quarter was stronger than anticipated due to a faster ramp up in demand for outsourcing services and strong discretionary spend on consulting and technology services.
Cognizant is expecting its 2013 revenue to be around $8.84 billion, up 20.3 percent compared to 2012.
| COGNIZANT TECHNOLOGY SOLUTIONSÂ | ||||||||||
| Schedule of Supplemental Information (Unaudited) | ||||||||||
| (In thousands) | ||||||||||
| Three Months Ended September 30, 2013 | ||||||||||
| Growth % | ||||||||||
| $ | % of total | Sequential | Year over Year | |||||||
| Revenue by Segment: | ||||||||||
| Financial Services | $ Â Â 954,379 | 41.4% | 4.8% | 21.0% | ||||||
| Healthcare | 599,947 | 26.0% | 10.8% | 24.2% | ||||||
| Manufacturing/Retail/ |
490,622 | 21.3% | 6.3% | 23.7% | ||||||
| Other | 260,775 | 11.3% | 5.4% | 16.6% | ||||||
| Total Revenue | $ 2,305,723 | 6.7% | 21.9% | |||||||
| Revenue by Geography: | ||||||||||
| North America | $ 1,783,081 | 77.3% | 6.3% | 18.5% | ||||||
| Â United Kingdom | 246,397 | 10.7% | 5.4% | 26.0% | ||||||
| Â Rest of Europe | 168,259 | 7.3% | 9.7% | 57.1% | ||||||
| Europe – Total | 414,656 | 18.0% | 7.1% | 37.0% | ||||||
| Rest of World | 107,986 | 4.7% | 11.8% | 28.0% | ||||||
| Total Revenue | $ 2,305,723 | 6.7% | 21.9% | |||||||