Cognizant’s April-June 2012 net profit rises to $251.9 million
06 Aug 2012
Cognizant Technology Solutions Corp has reported a higher quarterly net profit of $251.9 million, or $0.82 per diluted share, compared to $208 million, or $0.67 per diluted share, in the second quarter (April-June) of 2011.
Revenue for the second quarter of 2012 rose 20.9 per cent to $1.795 billion, from $1.485 billion in the second quarter of 2011, on increased demand for its outsourcing services.
Operating margin for the quarter was 18.5 per cent. The information technology services provider raised its full-year adjusted profit forecast.
Cognizant now expects full-year adjusted earnings of at least $3.64 per share, up from its previous forecast of $3.62 per share. The company reaffirmed its revenue forecast of at least $7.34 billion.
The company added 4,700 professionals to its total workforce during the quarter.
Indian outsourcing majors Infosys Ltd and Wipro Ltd had forecast weak sales, citing slowing global outsourcing spend, while others like Capgemini expect better growth.
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