Cognizant reports good numbers in Mar quarter, revises revenue guidance

Net income for the first quarter of CY21 was $505 million, up 37%

Nasdaq-listed IT major Cognizant reported better numbers for the first quarter of CY21, as it saw recovery in its health care vertical and digital services grew faster than the company’s growth.
 
Cognizant also revised upwards its full year revenue guidance from 7 per cent to 9 per cent (5.5-7.5 per cent in constant currency).
 
At the end of its financial year December 2020, the company had guided for a revenue growth of 5.5 to 8.5 per cent (4-7 per cent in constant currency). When compared to Indian players, Cognizant’s guidance does not seem to match up. Infosys has