Cognizant Q3 revenue rises 12%

Higher spending by customers in North America and Europe helped the numbers

IT services provider Cognizant Technology Solutions Corp reported a 12% rise in quarterly revenue due to higher spending by customers in North America and Europe.

The company's net income rose to $355.6 million, or 58 cents per share, in the third quarter ended Sept. 30 from $319.6 million, or 53 cents per share, a year earlier.

Revenue rose to $2.58 billion from $2.31 billion.