Cognizant Reports Mixed Q2 Earnings: Revenue Beats but EPS Misses Estimates
Cognizant (NASDAQ:CTSH) reported mixed second-quarter results, with revenue exceeding Wall Street expectations while earnings per share fell slightly short. The IT services firm posted adjusted earnings of $1.37 per share against a forecast of $1.38 and generated $5.5 billion in revenue, surpassing the projected $5.49 billion. The Financial Services segment drove much of Cognizant's growth, with 12% year-over-year revenue increase contributing to over one-third of total sales. The company also raised its full-year guidance for both revenue and adjusted earnings per share, citing strong demand in digital transformation and AI services. Cognizant returned $1.1 billion to shareholders through buybacks during the quarter and completed a $634 million acquisition of Astreya to bolster technology capabilities.
Tickers: $CTSH
Topics: Earnings Full-Year Guidance Revenue Growth