Cognizant posts 11.5% YoY rise in Q3 net; guides for $3.79-3.85 billion revenue in Dec quarter

NEW DELHI: IT major Cognizant on Wednesday said its net profit stood at $495 million in the September, compared with $444 million in the same quarter last year.

Nasdaq 100 constituent’s revenue for the quarter rose 9.1 per cent year-on-year to $3.77 billion, the company said in a filing. This was in comparison to $3.45 billion revenue the company reported in the year-ago quarter.

The company has guided for revenue in $3.79 billion to $3.85 billion range. Non-GAAP diluted EPS is expected to be at least $0.95, the company said.

For the whole calendar 2017, the company expects revenue in $14.78 billion to $14.84 billion range, while it expects non-GAAP diluted EPS expected to be at least $3.70.

"We are making consistent progress in executing the plan to accelerate our shift to digital services and solutions," said Francisco D'Souza, Chief Executive Officer. "We've systematically built the significant capabilities needed to help our clients transform their business, operating, and technology models ̶ a transformation we call digital at scale. We believe our long-term relationships with clients and deep understanding of their priorities puts us in a privileged position to help them adapt, compete, and grow."

The company has declared its cash dividend of $0.15 per share on Cognizant Class A Common Stock for shareholders of record at the close of business on November 20. This dividend will be payable on November 30, 2017, the IT firm said.