Cognizant Q4 net profit down 9.6% YoY, beats annual guidance for FY22

US-based software exporter Cognizant saw its net profit decrease 9.6% in the fourth quarter to $521 million on account of impairment expenses and higher operating costs.

The company’s revenue, however, saw an uptick, rising 1.3% on year to $4.84 billion for the three-month period. It was slightly above street estimates of $4.83 billion. The profit declined by 20.7% on a sequential basis.