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Cognizant revenue up 22%

November 05 2013

Cognizant Technology Solutions Corp. (NASD: CTSH), an information technology, consulting, and business process outsourcing services provider, reported third-quarter revenue rose 21.9 percent year over year to $2.31 billion from $1.89 billion in the third quarter of last year. Revenue in North America, which comprises 77.3 percent of the company’s total revenue, rose 18.5 percent year over year to $1.78 billion.

“Our performance during the quarter was stronger than anticipated due to a faster ramp up in demand for outsourcing services and strong discretionary spend on consulting and technology services,” said President Gordon Coburn.

The Teaneck, N.J.-based firm’s net income rose 15.4 percent year over year to $319.6 million.

Cognizant Technology Solutions Corp. (NASD: CTSH):
For the third quarter ended Sept. 30, 2013, compared with the same period in the previous year.
Revenue: $2.31 billion, +21.9 percent
Net income: $319.6 million, +15.4 percent

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