Cognizant net profit up 15.6% YoY, lowers 2022 revenue growth guidance to 7%

Nasdaq-listed Cognizant Technology Solutions reported a 15.6% rise in net profit to $629 million for the September quarter from $544 million a year ago, on the back of a 5.6% rise in revenue in constant currency from the year-ago period to $4.9 billion. The company follows the calendar year.

The Teaneck, New Jersey-based firm expects its full year 2022 revenue to grow 7% in constant currency to about $19.3 billion. This was lower than the 8.5-9.5% guidance it gave for the full year in the June quarter.