Cognizant Sees Small Revenue Rise
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.