Cognizant revenue up 23%, net income up 13%

Cognizant Technology Solutions today said its revenue rose 22.6 percent to $3.09 billion in the second quarter of 2015.

Net income grew 12.96 percent to $420.1 million.
“Our second quarter sequential revenue increase in dollar terms was the strongest in our history,” said Francisco D’Souza, chief executive officer of Cognizant.

Teaneck, N.J.-based Cognizant said its Q3 2015 revenue is expected to be at least $3.14 billion and fiscal 2015 revenue will be $12.33 billion, up 20.1 percent compared to 2014.

Cognizant generated $1250 million (+18 percent) from Financial Services, $897 million (+39 percent) from Healthcare, $578.3 million (+12.4 percent) from Manufacturing/Retail/Logistics and $359.4 million (+20.3 percent) from other segments.

Cognizant said Financial Services contribute 40.5 percent revenue, Healthcare 29.1 percent and Manufacturing/Retail/Logistics 18.7 percent.

The IT services provider said $2423.9 million (+25.7 percent) revenue came from North America, $297.6 million (+11.9 percent) from United Kingdom, $204.7 million (+2.2 percent) from Rest of Europe, $502.3 million (+7.7 percent) from Europe – Total and $158.9 million (+30 percent) from Rest of World.

North America continues to be the largest revenue contributor with 78.6 percent, said Cognizant.

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