Cognizant Q4 net profit down 9.6% YoY, meets annual guidance for FY22

IT services firm reports rise in headcount, says voluntary attrition declining

Nasdaq-listed Cognizant on Friday reported its fourth quarter FY22 net profit at $521 million, down 9.5 per cent year-on-year. Revenue for the quarter increased 1.3 per cent at $4.8 billion in reported terms and it was up 4 per cent in constant currency.

The IT services firm, which follows the January-December financial calendar, did not provide the full-year revenue guidance number for FY23. It said that for the first quarter of the new fiscal year it expects revenue to be in the range of $4.71-4.76 billion, a decline of 1.5 per cent to 2.5 per cent.

The company reported a