Cognizant retains revenue outlook for 2015 despite Chennai flood

Cognizant
IT services provider Cognizant Technology Solutions said it retained its revenue outlook for 2015 despite the flooding in Chennai, India.

The IT outsourcing company said it will achieve the previously announced full-year revenue guidance of at least $12.41 billion and non-GAAP diluted EPS guidance of at least $3.03. The company will achieve the previous revenue guidance thanks to its successful handling of Chennai operations despite rains.

Cognizant has 11 delivery and operations centers in Chennai, India, where in flooding impacted normal life during the fourth quarter of 2015.

Incidentally, Wipro recently announced that the Chennai floods had impacted its revenue in the December quarter.

“All its employees are safe and accounted for and that its comprehensive Business Continuity Plan enabled continuity of critical work for its clients,” said Cognizant.

“Due to the execution of its Business Continuity Plan, which largely mitigated the financial impact of the flooding, Cognizant has reaffirmed that it expects to achieve both its previously announced full-year revenue guidance of at least $12.41 billion and its non-GAAP diluted EPS guidance of at least $3.03,” said Cognizant.

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