Story image

Cognizant revenue, net income up as move to digital services continues

08 May 17

Cognizant Technology Solutions has logged a 10.7% increase in revenue for the first quarter of 2017 as the professional services company continues its shift to digital services and solutions.

The company recorded revenue of $3.55 billion, up from $3.2 billion for the same period a year ago.

GAAP net income was $557 million – a 26% increase on Q1 2016’s $441 million.

The company is expecting second quarter revenue of between $3.63 billion and $3.68 billion and full year revenue of between $14.56 billion and $14.84 billion.

Francisco D’Souza, Cognizant chief executive officer, dubbed the financials ‘solid results’.

“We… continued to build our digital solutions portfolio, expand our skills and enhance our engagement with clients,” D’Souza says.

“We’re making good progress in accelerating Cognizant’s shift to digital services and solutions to create value for clients and shareholders, positioning us well to achieve both our revenue and margin targets for this year.”

Earlier this year the company launched a Melbourne Digital Business ‘Collaboratory’ which is expected to bring 100 new jobs. The Collaboratory provides a dedicated space to work with clients to design, prototype and build new solutions.

Last month the company announced it had been selected by ABN AMRO Clearing as a strategic partner as the global clearing firm looks to cloud-enable its IT infrastructure and lay the foundation for digital transformation.

Lenovo DCG moves Knight into A/NZ general manager role
Knight will now relocate to Sydney where he will be tasked with managing and growing the company’s data centre business across A/NZ.
Proofpoint launches feature to identify most targeted users
“One of the largest security industry misconceptions is that most cyberattacks target top executives and management.”
McAfee named Leader in Magic Quadrant an eighth time
The company has been once again named as a Leader in the Gartner Magic Quadrant for Security Information and Event Management.
Symantec and Fortinet partner for integration
The partnership will deliver essential security controls across endpoint, network, and cloud environments.
Review: Blue Mic’s Satellite headphones are good but...
Blue Mic’s newest wireless headphones deliver on sound, aesthetic, and comfort - but there is a more insidious issue at hand.
Is Supermicro innocent? 3rd party test finds no malicious hardware
One of the larger scandals within IT circles took place this year with Bloomberg firing shots at Supermicro - now Supermicro is firing back.
IDC: Smartphone shipments ready to stabilise in 2019
IDC expects year-over-year shipment growth of 2.6% in 2019, while the world's largest market is still forecast to be down 8.8% in 2018.
Microsoft NZ bids Goldie a “fond farewell”
Microsoft New Zealand director of commercial and partner business takes new role across the Tasman. The search for his replacement has begun.