Cognizant Q1 revenue up 20% at $2.91 billion

May 04, 2015 04:06 pm | Updated 04:19 pm IST - Bengaluru

IT services provider Cognizant on Monday said its net profit for the first quarter ended March 31, 2015 increased to $382.9 million or 62 cents per share from $348.9 million, or 57 cents per share, a year earlier period.

The US-based company’s revenue grew 20 per cent to $2.91 billion from the year-ago period and up 6.2 per cent as against the previous quarter. The company attributed the increase in quarterly revenue to higher spending by healthcare and financial services clients in North America.

The Non-GAAP operating margin was 19.8 per cent for the quarter.

Commenting on the results, Francisco D’Souza, Chief Executive Officer of Cognizant said, “The clients we serve are experiencing tremendous change in their businesses and are increasingly turning to Cognizant to navigate that change. “The investments we have made in digital, automation, utility-based delivery models, consulting and industry-specific expertise are clearly paying off.”

For the period March 31, 2015, Cognizant made a net headcount addition of approximately 6,200 people.

The company which follows a calendar financial year said in a press release said, for the second quarter 2015 revenue expected to be at least $3.01 billion, while the full year revenue to be at least $12.24 billion, up at least 19.3 per cent compared to 2014.

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