Cog­nizant Sees Small Rev­enue Rise

The Economic Times - - Front Page -

Cog­nizant has fore­cast a mar­ginal in­crease in rev­enue for the cur­rent year pro­vid­ing a sliver of hope for an in­dus­try grap­pling with slow­ing growth, re­ports Jochelle Men­donca. The com­pany axed over 4,000 jobs in the pre­vi­ous quar­ter — the high­est among in­dus­try peers. Cog­nizant said it ex­pects rev­enue growth of 9-10% in 2017; it had pre­vi­ously fore­cast growth of 8-10% for the year. It an­nounced rev­enue of $3.67 bil­lion for the se­cond quar­ter, up 3.5% from the first quar­ter. Net in­come stood at $470 mil­lion.

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