Cognizant targets $4.9 bn revenue in second quarter

Cognizant said its revenue is expected to be $4.90-$4.94 billion, or growth of 6.8 percent-7.8 percent, in the second quarter of 2022.
Cognizant revenue in Q1 2022Cognizant is expecting revenue of $19.8-$20.2 billion, or growth of 7.2 percent-9.2 percent, in 2022.

Cognizant CEO Brian Humphries said: “While the economic backdrop is uncertain, we remain optimistic about the demand outlook for our solutions. Our strategic repositioning enables us to engage more with clients, helping them succeed, and supports our growth trajectory.”

Cognizant reported first quarter revenue of $4.8 billion (+9.7 percent) with operating margin of 15 percent.
Cognizant job additions in Q1 2022Cognizant has generated first quarter revenue of $912 million from Europe, $3.596 billion from North America and $345 million from Rest of the World including India and China.

Cognizant’s Financial Services revenue grew 4.8 percent to $1.528 billion, reflecting demand for digital services, partially offset by enterprise clients’ focus on cost optimization.

Cognizant’s Healthcare revenue grew 8.1 percent to $1.392 billion — driven by demand for digital services among life sciences clients, including digitization of clinical trial processes and investments in manufacturing operations modernization.

Cognizant’s Products and Resources revenue grew 13.2 percent to $1.13 billion — driven by demand for digital services across all industries and included the benefit from recently completed acquisitions.

Cognizant’s Communications, Media and Technology revenue grew 18.1 percent to $776 million, reflecting demand for data services among digital native companies.