Cognizant revenue increased 14.6% in Q2
Global IT consulting firm Cognizant reported a 14.6% increase in revenue at $4.6 billion during the second quarter of 2021.
Cognizant CEO Brian Humphries said, “Through targeted investments, we’ve been shifting our portfolio to faster-growing market segments while extending our capabilities and partnerships to help clients build modern businesses.”
The tech company’s financial services revenue grew to 7.6%, which included their recent acquisitions and a boost in digital revenue. Meanwhile, the healthcare revenue increased by 14.5%, products and resources grew by 21.7 %, and communications, media, and technology rose by 21.2%,
Cognizant added that the increase in its revenue across all segments reflects the impact of the pandemic last year and the ransomware attack that happened last April 2020.
Further, the IT company expects its third-quarter revenue to be US$ 4.69 – 4.74 billion with a 10.6-11.6% increase. The full-year revenue is forecasted to be US$18.4 – 18.5 billion.
