Cognizant Raises Full-Year Revenue Forecast After Beating Q2 Estimates with $4.9 Billion Revenue and $566 Million Net Profit

Cognizant Technology Solutions reported a strong performance in the second quarter of 2024, with revenues reaching $4.9 billion, surpassing the high end of its guidance range. The company also raised its full-year revenue forecast, reflecting confidence in its growth trajectory. Cognizant's net profit for the quarter increased by 22% year-on-year, amounting to $566 million. This positive financial performance was driven by robust demand, particularly in the financial services sector, as businesses increasingly turn to IT solutions to meet their needs.