Cognizant puts out Q3 results, happy with strong demand

TEANECK, USA: Cognizant Technology Solutions Corporation announced its third quarter 2014 financial results.

As shared in a press note, revenue for the third quarter of 2014 rose to $2.58 billion, up 11.9 per cent from $2.31 billion in the third quarter of 2013. GAAP net income was $355.6 million, or $0.58 per diluted share, compared to $319.6 million, or $0.53 per diluted share, in the third quarter of 2013.

Non-GAAP diluted earnings per share was $0.66 compared to $0.59 in the third quarter of 2013. GAAP operating margin for the quarter was 17.7 per cent. Non-GAAP operating margin was 19.5 per cent, within the Company’s target range of 19-20 per cent.

"There is a tremendous opportunity in the marketplace as the advent of new digital technologies, global economic pressures, and an evolving regulatory environment force businesses across all industriesto change and adapt faster than ever before,” said Francisco D’Souza, Chief Executive Officer of Cognizant.

“Our overall demand environment remains strong and our results this quarter highlight that we are competing, winning and executing transformational engagements for clients in various industry segments globally,” said Gordon Coburn, President.

“Clients are turning to Cognizant in increasing numbers to help them simplify, optimize and automate their operations, whether it is through new utility delivery models or integrated end-to-end solutions. Today’s connected world requires digital solutions to be brought to market in an accelerated manner. ”