Cognizant on Wednesday reported a 2.2 per cent sequential rise in revenues for the three months to December. The New Jersey-based outsourcer reported revenues of $2355 million in its fiscal fourth quarter.
Cognizant's revenue growth was also sharply lower than its Indian rivals such as Tata Consultancy services and HCL Technologies. TCS, India's biggest outsourcer, reported a 3 per cent rise in US dollar sales during the December quarter, which is considered to be a weak period for companies because of furloughs and holidays in key markets such as US and Europe.
Cognizant, which puts out an annual sales outlook, said it expects revenues of at least $10.3 billion in 2014, indicating a 16.5 per cent year-on-year growth. That would be sharply lower than its 2013 growth rate of 20.4 per cent.
Profits (GAAP) stood at $324.3 million, up 16.3 per cent from the year-ago quarter, the company said in a statement. Non-GAAP operating margin was 20.7 per cent, higher than the company's targeted 19-20 per cent range, Cognizant said in a statement.
The company added a net of 5,000 employees during the quarter, taking its year-end headcount to approximately 1.71 lakh.
Cognizant's revenue growth was also sharply lower than its Indian rivals such as Tata Consultancy services and HCL Technologies. TCS, India's biggest outsourcer, reported a 3 per cent rise in US dollar sales during the December quarter, which is considered to be a weak period for companies because of furloughs and holidays in key markets such as US and Europe.
Cognizant, which puts out an annual sales outlook, said it expects revenues of at least $10.3 billion in 2014, indicating a 16.5 per cent year-on-year growth. That would be sharply lower than its 2013 growth rate of 20.4 per cent.
Profits (GAAP) stood at $324.3 million, up 16.3 per cent from the year-ago quarter, the company said in a statement. Non-GAAP operating margin was 20.7 per cent, higher than the company's targeted 19-20 per cent range, Cognizant said in a statement.
The company added a net of 5,000 employees during the quarter, taking its year-end headcount to approximately 1.71 lakh.
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