Cognizant Technology Solutions Corporation has posted a growth of 9.74% in net income for the quarter ended March 31, 2015, at $382.9 million as compared to $348.9 million posted during the same period of previous year.
The revenue stood at $2.91 billion during the end of the quarter, with a growth of 20.2% as compared to $2.42 billion during the same quarter of last year.
Francisco D’Souza, chief executive officer of Cognizant, said, “The investments we have made in digital, automation, utility-based delivery models, consulting and industry-specific expertise are clearly paying off. Given how fast the landscape is changing, clients typically don’t have the skillsets to manage this transformation in-house and are turning to Cognizant to help them re-architect their core business and organizational models."
"We’re building deeper relationships with CEOs and boards, CIOs, and business and functional leaders to help them transform their businesses into digital enterprises,” he added.
During the second quarter of the year, the company is exepecting the revenue to be at least $3.01 billion. For the year 2015, the company has given a guidance of 19.3% growtwh compared to 2014, to be at least $12.24 billion.
Gordon Coburn, president, Cognizant said, “It’s evident across all geographies and industries that businesses are being forced to manage growth, innovation and scale while simultaneously managing costs. The shift to a digital enterprise is driving greater demand for our traditional services and solutions as clients find the need to keep pace with the speed and scale of innovation and maintain their competitive advantage.”
Karen McLoughlin, chief financial officer, said, “In addition, we are pleased to increase our full year revenue and EPS guidance to reflect the over-performance during the first quarter.”
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