Cognizant reports 12 per cent rise in net profit

Cognizant Technology Solutions reported a 12 per cent rise in the net profit, to $509 million, in the second quarter ended June 30, 2019.

In the year-ago quarter, it had reported a net profit of $456 million .

The quarterly revenue rose to $4.14 billion, up 3.4 per cent from the year-ago quarter.

“We are taking the necessary steps to position Cognizant for improved commercial and financial performance. While there is lots of work ahead, I am encouraged by what I have seen to date and am optimistic on our future,” said Brian Humphries, Chief Executive Officer (CEO), Cognizant Technology Solutions.