Cognizant Q3 revenue increased by 11.8%
IT services company Cognizant reported an 11.8% revenue increase to US$4.7 billion in the third quarter of 2021.
The tech firm reported that its financial services revenue grew by 5.1% to US$1.54 billion through its acquisitions and digital services in both banking and insurance.
Cognizant’s healthcare revenue also increased by 10% to US$1.35 billion due to integrated software solutions demand among pharmaceutical companies and healthcare customers.
Additionally, the company’s products and resources revenue grew 19.4% to US$1.1 billion, and its communications, media, and technology revenue rose by 20% to $739 million.
Cognizant is expecting its Q4 revenue to increase by 13.5-14.5% to US$4.75-$4.79 billion.
Its full-year forecast is now at approximately US$18.5 billion, with 11.1% growth than last year, with an adjusted operating margin of approximately 15.4%.
