Cognizant Q1 profit declines 6% to $546 million, revenue dips 1.2%

Nasdaq-listed Cognizant Technology Solutions has maintained its full-year 2024 revenue to be in the range of $18.9-19.7 billion, or a decline of 2 per cent to a growth of 2 per cent in constant currency. The second quarter revenue is expected to be in the range of $4.75-4.82 billion, a decline of 2.5 per cent to a decline of 1 per cent in constant currency.

The Teaneck, New Jersey-based firm posted a nearly 6 per cent decline in net profit at $546 million for the March quarter from $580 million a year ago.