Cognizant Q4 profit up 7% at $558 mn , 2024 revenue guidance at -2% to 2%

Nasdaq-listed Cognizant Technology Solutions has forecast its revenue for FY24 to be in the range of $19.0 to $19.8 billion, reflecting a decline of 2 per cent to a growth of 2 per cent in constant currency terms.

The firm, based in Teaneck, New Jersey, reported a 7 per cent increase in net profit at $558 million for the December quarter, up from $521 million in the corresponding period the previous year. Revenue decreased by 2.4 per cent in constant currency terms from the year-ago period to $4.75 billion, falling within its own guidance range of $4.69 to $4.82 billion. The company adheres to the calendar year as its financial year.