Cognizant Q3 revenue up 9.1%

Cognizant Technology Solutions Corporation, one of the world’s leading professional services companies, announced its third quarter 2017 financial results.

For Q3, revenue rose to $3.77 billion, up 9.1% from the year-ago quarter.

GAAP net income was $495 million, or $0.84 per diluted share, compared to $444 million, or $0.73 per diluted share, in the third quarter of 2016. Non-GAAP diluted EPS was $0.98, compared to $0.86 in the third quarter of 2016. GAAP operating margin was 17.2% and non-GAAP operating margin1 was 20.0% for the third quarter of 2017.

“We are making consistent progress in executing the plan to accelerate our shift to digital services and solutions,” said Francisco D’Souza, Chief Executive Officer. “We’ve systematically built the significant capabilities needed to help our clients transform their business, operating, and technology models ̶ a transformation we call digital at scale. We believe our long-term relationships with clients and deep understanding of their priorities puts us in a privileged position to help them adapt, compete, and grow.”

Fourth Quarter & Full Year 2017 Outlook

The Company is providing the following guidance:

Fourth quarter 2017 revenue expected to be in the range of $3.79 bn to $3.85 bn.
Fourth quarter 2017 non-GAAP diluted EPS2 expected to be at least $0.95.
Full year 2017 revenue expected to be in the range of $14.78 billion to $14.84 billion.
Full year 2017 non-GAAP diluted EPS expected to be at least $3.70.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.