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Cognizant reports good Q4 numbers

Cognizant reports good Q4 numbers
Cognizant Technology Solutions Corporation, a leading provider of information technology reported its fourth quarter and full year 2012 financial results.

The company reported 16 per cent rise in net profit at $278.8 million, compared to $240.1 million in the fourth quarter of 2011. The company is NASDAQ listed and follows a January - December reporting year.

The company's quarterly revenue rose to $1.95 billion, up 17.1% from the year-ago quarter and 3.0% sequentially.

Commenting on the results, Francisco D'Souza, Chief Executive Officer of Cognizant said "As we look to 2013, it is clear that secular industry shifts, new technology architectures, virtual business models and changing demographics are forcing clients to re-examine how they operate. Increasingly, clients are finding incremental levels of performance inadequate and are challenging the status quo to find ways to maintain their market leadership."

The company also said that first quarter 2013 revenue anticipated to be at least $2.0 billion, full year 2013 revenue expected to be at least $8.60 billion.

Shares of the company on NASDAQ ended higher by 2.94% at $78.51.

Read more about: cognizant
Story first published: Friday, February 8, 2013, 9:56 [IST]
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