CHENNAI: Teaneck-based Cognizant reported $5.5 billion as revenue in second quarter ending June, which is an increase of 4.5 per cent year-over-year or 4.1 per cent in constant currency.
The company's operating margin of 15.9 per cent increased 30 basis points year-over-year while adjusted operating margin of 16 per cent increased 40 basis points year-over-year, as per a release.
On a trailing-twelve-month basis, bookings increased 5 per cent year-over-year to $29.1 billion, which represented a book-to-bill of approximately 1.3x.
Bookings in the Q2, which included seven large deals (with total contract value of $100 million or greater), declined 6 per cent year-over-year.
On a trailing-twelve months basis, voluntary attrition, tech services was 13 per cent for the period ended June 30, 2026, as compared to 12.3 per cent and 12.6 per cent for the periods ended March 31, 2026 and June 30, 2025, respectively. Total headcount as of June 30, 2026 was 356,700, a decrease of 900 from March 31, 2026 and an increase of 12,900 from June 30, 2025.
During the second quarter of 2026, the company completed its acquisition of Astreya for $634 million, including contingent consideration of $25 million, net of cash acquired, while borrowing $1.0 billion under its revolving credit facility.
"Our organic revenue growth momentum continued in the second quarter and was at the high end of our expectations," said Ravi Kumar S, chief executive officer.
"We are helping our clients close the AI velocity gap by pairing deep industry expertise with engineering, infrastructure and data modernisation capabilities while safeguarding their data and IP. We are doing this by scaling our frontier workforce and reskilling for the future," he further said.
Exuding confidence of its strategy resonating with clients, he said this "is reflected in a second consecutive quarter of double-digit year-over-year growth in financial services, our largest and most mature segment. As organizations shift from AI experimentation to enterprise-scale execution, we believe the market opportunity ahead is larger than ever, and we're positioning Cognizant to lead in this next era."
Cognizant reported 12 per cent year-over-year revenue growth in financial services and $1.1 billion had been deployed on share repurchases.
Jatin Dalal, chief financial officer, said "in the first half of 2026, we deployed $1.6 billion on share repurchases and $1.3 billion on acquisitions aligned with our AI builder strategy."
Cognizant repurchased 22.5 million shares for $1,153 million during the Q2 under its share repurchase program.
GUIDANCE
Third quarter revenue expected to be $5.60 to $5.68 billion, growth of 3.4% to 4.9%, or 3.8% to 5.3% in constant currency
Full-year 2026 revenue expected to be $22.04 to $22.35 billion, growth of 4.4% to 5.9%, or 4.0% to 5.5% in constant currency