Cognizant Jul-Sep net income dips 30 pc to USD 348 million

The US-based company, which had posted a net income of $497 mn in September 2019 quarter, said it expects its FY2020 revenue to be “at the high end of the previously guided range of approximately

 $16.7 billion.”

 For the September 2020 quarter, Cognizant’s revenue was almost flat at $4.2 billion, including a negative 130 basis points impact from the exit from certain content services.

 The company, which has about 2 lakh employees based in India, follows JanuaryDecember as financial year. “We had a very strong quarter and we feel very good about the momentum that’s building. We executed well, it’s a tough environment...we have good actual momentum in digital, good momentum in booking, strong cash flow and gross margins. We increased our guidance,” Brian Humphries, CEO, Cognizant, said. Bookings saw 15 pc growth year-todate and digital bookings were up 40 per cent year-on-year, putting it in a strong position. “...we are optimistic about our return to growth. In fact, this quarter we grew, if you normalise it for the business that we actually exited, which means we outgrew nearly every other major competitor globally,” he said.