Once again US based Cognizant has outpaced its global IT peers with robust January-March earnings and maintaining its 17 percent growth guidance for 2013.
Cognizant has not only met its revenue guidance of USD 2 billion, but also reported 2 percent increase in net income. The IT company reported a net income of USD 284.2 million, in the first quarter, up from USD 243.7 million from a year earlier. Revenue for the quarter rose 18 percent to USD 2.02 billion.
More importantly, Cognizant reaffirmed its guidance for the full year. The company has guided for 17 percent revenue growth in calendar year 2013 at USD 8.60 billion, which is much ahead of other leading Indian IT companies like Infosys , Wipro and Tata Consultancy Services . Cognizant's guidance is also much higher than the National Association of Software and Services Companies (NASSCOMs) target of around 11-14 percent.
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