Cognizant Q2 outlook misses estimates despite steady Q1 show
US-based IT services Cognizant on Wednesday missed revenue guidance for the April–June quarter, set at $5.45–$5.52 billion, below analyst estimates of $5.55 billion due to a volatile macroeconomic environment. The company follows a calendar financial year ending December 31. The revision comes even as the firm reported a steady performance for the January–March quarter.
Cognizant posted first-quarter revenue of $5.4 billion, up 5.8% year-on-year, or 3.9% in constant currency terms, at the upper end of its guidance and broadly in line with estimates.
