Cognizant Q1 net up 26% to $557 mn

Revenue stood at $3.55 bn, sticking to the higher end of the company's guidance

IT services major Cognizant today posted a 26 per cent increase in net profit at $557 million for the quarter ended March 31, 2017.

Cognizant's net profit stood at $441 million in the first quarter of 2016.

Cognizant Technology Solutions has declared its first quarterly cash dividend of $0.15 per share, after it has agreed with activist investor Elliott Management to issue dividend and announce share purchase programme. The company has posted a growth in tune with its guidance for the quarter ended March 31, 2017, with a revenue growth of 10.74% to $3.55 billion as compared to $3.20 billion during the