The IT major's revenue in the first quarter of 2014 climbed 19.9 percent (Y-o-Y) and 2.8 percent (Q-o-Q) to USD 2.42 billion.
While Indian IT companies have been struggling on the home turf, Nasdaq-listed Cognizant has bucked the trend.
Also Read: Cognizant acquires US-based digital video solutions firm
The company has posted a 22.8 percent jump in net profit to USD 348.9 million in the January-March quarter, in line with estimates, driven by strong momentum in the European region and broadbased growth across businesses, reports Kritika Saxena of CNBC-TV18.
The New Jersey-headquartered IT major's revenue in the first quarter of 2014 climbed 19.9 percent (Y-o-Y) and 2.8 percent (Q-o-Q) to USD 2.42 billion, which is in line with Cognizant's guidance but a tad below Nomura's estimates of 3.2 percent.
For Q1CY14, GAAP net income stood at USD 348.9 million, which is 22.8 percent up on yearly basis and 7.6 percent rise sequentially.
The non-GAAP operating margin for the period stood at 20.8 percent against Nomura's estimates of 20.5 percent – a range that Cognizant ideally likes to maintain.
Moreover, the company has reaffirmed its CY14 revenue guidance of at least 16.5 percent growth at USD 10.3 billion
For Q2, which is a seasonally strong quarter for most IT companies, Cognizant is expecting a revenue growth between USD 2.50 billion and USD 2.53 billion.
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