Cognizant Earned 94 Cents per Share

Quarterly revenue rose to $4.14 billion, up 3.4% (4.7% in constant currency1) from the year-ago quarter.

Quarterly Adjusted Diluted EPS was $0.94, compared to $1.05 in the year-ago quarter.

“We are taking the necessary steps to position Cognizant for improved commercial and financial performance,” said Brian Humphries, Chief Executive Officer. “While there is lots of work ahead, I am encouraged by what I have seen to date and am optimistic on our future.”

The Company is providing the following guidance:

Third quarter 2019 year-over-year revenue growth in the range of 3.8-4.8% in constant currency.

Full year 2019 year-over-year revenue growth in the range of 3.9-4.9% in constant currency.

Full year 2019 Adjusted Operating Margin expected to be approximately 17.0%.

Full year 2019 Adjusted Diluted EPS expected to be in the range of $3.92-$3.98.

“Second quarter results were in-line with our guidance and position us to achieve our full-year outlook,” said Karen McLoughlin, Chief Financial Officer. “We are implementing actions in the second half of the year that we expect will lower our existing cost structure and allow for greater investment in growth, talent, and digital solutions. Using our strong balance sheet we returned over $1.1 billion to shareholders in the second quarter.”

The shares are up about 4% after hours.

Posted by on July 31st, 2019 at 4:21 pm


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