Cognizant Q4 net income down 1.9% at $416 mn

Nasdaq-listed Cognizant Technology Solutions has managed to meet its earlier forecast on growth in the numbers it announced for its fourth quarter and full-year (2016) results.

The company reported net income of $416 million for the fourth quarter ended December 31 last year, down 1.9% from $424 million in the corresponding quarter of 2015. On a sequential basis, net profit dipped 6.8% from $444.4 million (quarter ended September 30). 

For the full year, Cognizant reported revenue of $13.49 billion, up 8.6% from $12.42 billion in 2015. The revenue growth met the lower end of its growth guidance of 8.5-9%. 

For 2017, Cognizant guided