COGNIZANT Technology Solutions Corporation, one of the world’s leading professional services companies, have announced their first quarter 2018 financial results.
Highlights – First Quarter 2018
• Quarterly revenue rose to $3.91 billion, up 10.3 per cent from the year-ago quarter.
• Quarterly GAAP diluted EPS was $0.88, compared to $0.92 in the year-ago quarter.
• Quarterly non-GAAP diluted EPS 2 was $1.06, compared to $0.84 in the year-ago quarter.
Revenue for the first quarter of 2018 rose to $3.91 billion, up 10.3 per cent from $3.55 billion in the first quarter of 2017. GAAP net income was $520 million, or $0.88 per diluted share, compared to $557 million, or $0.92 per diluted share, in the first quarter of 2017. Non-GAAP diluted EPS was $1.06, compared to $0.84 in the first quarter of 2017. GAAP operating margin was 17.7 per cent and non-GAAP operating margin was 20.3 per cent for the first quarter of 2018.
“We achieved solid financial results in the first quarter and progressed our shift to digital services and solutions,” said Francisco D’Souza, chief executive officer. “Cognizant have built the capabilities and scale to help clients digitize their offerings, create personalized customer experiences, instrument their operations, and modernize their IT infrastructure. This digital-at- scale value proposition is winning with clients and positioning us well to deliver a strong 2018.”