Cognizant Tops Q1 Revenue Estimates
US-based information technology (IT) services firm Cognizant Technology Solutions beat the Street and its revenue estimates for the first quarter of 2025, on the back of large deals in health sciences and financial services.
Revenue came in at $5.1 billion, up 7.5 percent year-over-year or 8.2 percent in constant currency (CC), above the high end of its guidance range and analyst estimates of $5.07 billion, the Teaneck-headquartered firm said on May 1.
Net profit was up 21 percent at $663 million for the first quarter ended March 31, 2025. Cognizant, unlike its Indian peers, follows the calendar year.
“Growth was broad-based across… as recently won large deals more than offset discreetly spending pressures,” chief executive officer Ravi Kumar S told analysts after declaring the results.
While the Nasdaq-listed IT company retained its annual revenue guidance for 2025 in the 3.5 percent-6 percent range in constant currency (CC) terms, its second quarter guidance was lower than the first, 5 percent- 6.5 percent, in CC terms.
