Cognizant Technology Solutions Corp. (NASDAQ: CTSH) reported second-quarter revenue fell 0.1% year over year in constant currency to $4.89 billion. The IT services firm saw revenue from financial services firms fall 4.8%, while revenue from its “communication, media and technology” customers fell by 0.4%. In other verticals, revenue rose.

In the Americas — Cognizant’s largest geography — second-quarter revenue fell by 1.7% year over year in constant currency. However, revenue rose in both the UK and Continental Europe segments.

“We made continued progress during the quarter amid an uncertain economic backdrop,” CEO Ravi Kumar S said in a press release. He cited sequential revenue growth and the company’s Cognizant Neuro AI platform, which he said helped drive more than 100 client engagements.

The second quarter also included $117 million in restructuring charges, of which $78 million is for employee separation costs.

Total headcount at the end of the second quarter was up 4,300 from the second quarter of last year to 345,600. However, it was down 5,900 from the first quarter.

Cognizant also announced CFO Jan Siegmund will retire early next year, though he plans to remain until the company finds a new top finance executive.

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Guidance

Cognizant expects third-quarter revenue to range from down by 0.5% to up 0.5% in constant currency. Full-year revenue is expected to range from down 1.0% to up 1.0% in constant currency.

Share price and market cap

Shares in Cognizant were up 7.9% to $70.49 as of 1:17 p.m. Eastern time; they set a new 52-week high today when they reached $71.86, according to FT.com. The company had a market cap of $33.16 billion.