Cognizant closes Q3 with $4.7 bn revenue
Chennai, Nov 3 (IANS) Nasdaq listed Cognizant Technology Solutions (NASDAQ: CTSH ) (Cognizant) closed the third quarter with a 2.4 per cent revenue growth.
According to Cognizant, the revenue for the Q3 went up to about $4.9 billion up from about $4.7 billion of Q3 2021.
The company follows the calendar year as its accounting year.
The earnings per share stood at $1.17 ($1.06 Q32021).
"Revenue and bookings were below our expectations as company specific fulfillment challenges were compounded by the impact of an uncertain macroeconomic backdrop," said Brian Humphries, Chief Executive Officer.
"We are confident the steps we are taking will return the company to accelerated growth over the medium to long term," he added.
The total number of employees stood at 3,49,400 after adding 8,100 employees during the quarter under review.
The annualised voluntary attrition stood at 29 per cent, the company said.
Cognizant also said it has agreed to acquire the professional services and application management practices of US based OneSource.
Once the deal is done, Cognizant will add 400 employees to its fold.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or