US-based Cognizant reported a 9.7% growth in revenues as its revenue from operations from the quarter reached $4.8 billion, its highest ever quarterly figure and its fourth consecutive quarter of revenue growth.
Segment-wise, Financial Services saw revenue growth of 4.8%, Healthcare at 8.1%, Products, and Resources at 13.2%, and Media saw the highest growth during the quarter at 18.1%. The company's bookings grew 4% YoY as the annual bookings figure came in at $23.4 billion.
RRVL Q4 results for 2022 are out, read more.
The company's operating expenses also saw significant growth as its operating margin contracted from 15.2% for the corresponding quarter last year to 15% this quarter.
The company's net income for the quarter grew from $505 million to $563 million, beating all estimated figures, as EPS rose to $1.07 per share. The company's attrition rate fell down to 26% during the quarter.
The company has forecast revenue of $4.9-4.94 billion for the second quarter and $19.8-20.2 billion for FY 2022. The stock is listed on NASDAQ and saw a sharp decline of over $10 per share recently as it touched a low of $72.50 per share, a price level the stock hadn't reached since October 2021. The stock closed at $75.52 per share on Friday.
Article by Aman Agarwal.
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