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Cognizant Q1 income grows 10.9% in continuous currency, earnings up 11.5%

Byadmin2

May 5, 2022
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Might 05, 2022

IT services firm Cognizant Innovation Solutions Corp. (NASDAQ: CTSH) reported first-quarter income increased 10.9% in continuous currency.

” Our first-quarter efficiency shows strong income development in our digital portfolio and a healthy need environment,” CFO Jan Siegmund stated. “We stay concentrated on investing to support development chances while likewise carrying out on prices to balance out the effect of payment pressure driven by the continued labor supply-demand imbalance.”

(US$ millions). Q1 2022. Q1 2021. % modification. % continuous currency.
Income. $4,826. $4,401. 9.7%. 10.9%.
Earnings. $563. $505. 11.5%.

The fastest development happened in Cognizant’s “interactions, media and innovation” sector, which grew by 19.9% year over year in continuous currency, showing strong need for information services amongst digital native business.

Income by market vertical

(US$ millions). Q1 2022. % modification. % continuous currency.
Monetary services. $1,528. 4.8%. 6.0%.
Health Care. $1,392. 8.1%. 8.8%.
Products and resources. $1,130. 13.2%. 14.9%.
Interaction, media and innovation. $776. 18.1%. 19.9%.

Income by location

(US$ millions). Q1 2022. % modification. % continuous currency.
The United States And Canada. $3,569. 8.7%. 8.7%.
UK. $453. 22.4%. 26.4%.
Continental Europe. $459. 0.7%. 6.8%.
Rest of world. $345. 18.2%. 22.1%.

Assistance

Cognizant projection second-quarter income to be up in between 6.8% and 7.8%, or in between 9.3% and 10.3% in continuous currency.

Full-year 2022 income is anticipated to be up in between 7.2% and 9.2%, or in between 9.0% and 11.0% in continuous currency.

Share cost and market cap

Shares in Cognizant were down 11.59% to $74.58 since 12:32 p.m. Eastern time; they were 12.68% above the 52-week low according to FT.com. The business had a market cap of 43.97 billion.

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