IT offerings issuer Cognizant era answers Corp stated it expects a pipeline of the latest projects from its health care and monetary offerings clients to gas growth for the rest of the year, after a susceptible first zone.
The employer’s shares rose as plenty as three—8 percentage.
Like its Indian competitors, Tata Consultancy offerings Ltd and Infosys Ltd, Cognizant also gets the biggest chunk of its customers from financial offerings.
Sales from its monetary offerings area, which accounts for more than a 3rd of its total sales, rose 10.7 percent, at the same time as sales from health care offerings rose four percent in the first quarter.
The company suggested its slowest quarterly sales growth in 14 years as most of its clients held lower back on spending.
Cognizant also forecast its 2d region earnings underestimates and tightened its sales variety for the whole year.
“First area noticed softness in health care and economic offerings area. So, this makes numbers for the second sector and complete yr a little hard,” President Gordon Coburn told Reuters.
New Jersey-primarily based Cognizant said it expects second zone revenue inside the range of $3.34 billion-$3.forty billion and adjusted income between $0.80-$zero.82.
Analysts, on average, had predicted a profit of eighty-four cents according to proportion and revenue of $3.forty-one billion, in keeping with Thomson Reuters I/B/E/S.
But, Coburn said he does no longer expect the trend to continue for the whole yr.
The corporation has been setting big bets on virtual services to offset the reduction in purchaser spending.
“We’re looking at extra acquisitions for the yr in the digital offerings region,” Coburn advised Reuters.
The organization’s net income rose to $441.2 million, or 72 cents consistent with percentage, inside the first sector ended March 31, from $382.9 million or 62 cents in line with percentage, a year earlier.
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The corporation’s sales additionally rose 10 percentage to $three.20 billion.
Aside from items, the company earned 80 cents in step with percentage.
Analysts on a mean had anticipated a quarterly profit of 79 cents in step with proportion and sales of $three—23 billion, consistent with Thomson Reuters I/B/E/S.
TCS and Infosys, India’s biggest IT offerings companies, in April also reported better-than-expected quarterly earnings.
IT offerings issuer Cognizant era answers Corp stated it expects a pipeline of the latest projects from its health care and monetary offerings clients to gas growth for the rest of the year, after a susceptible first zone.
The employer’s shares rose as plenty as three—8 percentage.
Like its Indian competitors, Tata Consultancy offerings Ltd and Infosys Ltd, Cognizant also gets the biggest chunk of its customers from financial offerings.
Sales from its monetary offerings area, which accounts for more than a 3rd of its total sales, rose 10.7 percent, at the same time as sales from health care offerings rose four percent in the first quarter.
The company suggested its slowest quarterly sales growth in 14 years as the majority of its clients held lower back on spending.
Cognizant also forecast its 2d region earnings underestimates and tightened its sales variety for the whole year.
“First area noticed softness in health care and economic offerings area. So, this makes numbers for the second sector and complete yr a little hard,” President Gordon Coburn told Reuters.
New Jersey-primarily based Cognizant said it expects second zone revenue inside the range of $3.34 billion-$3.forty billion and adjusted income between $0.80-$zero.82.
Analysts, on average, had predicted a profit of eighty-four cents according to proportion and revenue of $3.forty-one billion, in keeping with Thomson Reuters I/B/E/S.
But, Coburn said he does no longer expect the trend to continue for the whole yr.
The corporation has been setting big bets on virtual services because it seeks to offset the reduction in purchaser spending.
“We’re looking at extra acquisitions for the yr in the digital offerings region,” Coburn advised Reuters.
The organization’s net income rose to $441.2 million, or 72 cents consistent with percentage, inside the first sector ended March 31, from $382.9 million or 62 cents in line with percentage, a year earlier.
The corporation’s sales additionally rose 10 percentage to $three.20 billion.
Aside from items, the company earned 80 cents in step with percentage.
Analysts on a mean had anticipated a quarterly profit of 79 cents in step with proportion and sales of $three—23 billion, consistent with Thomson Reuters I/B/E/S.
TCS and Infosys, India’s biggest IT offerings companies, in April also reported better-than-expected quarterly earnings.
