Nasdaq-listed IT services major, Cognizant has entered into Fortune 200 list of global companies on the back of its improved earnings. The US-headquartered company which has majority of its work force located in its various delivery centres located in India improved its global ranking in the Fortune list to 195 in 2018 list from 205 held in 2017.
Cognizant first debuted on the Fortune list in 2011 with 484 rank, which has improved every year since then, the company said in a release.
“Cognizant enters its 25th year in business playing a leading role in building the digital economy. Our expertise in applying technology to transform our clients’ enterprises has enabled us to be one of the world’s fastest-growing professional services companies," said Francisco D’Souza, Chief Executive Officer of Cognizant in a statement.
Fortune 500 rank is prepared by Fortune magazine on the basis of total revenue of a company in the respective fiscal year. On this basis, Cognizant's revenue of $14.81 billion in 2017 was an increase of 9.8 per cent over the previous year, which has enabled it to improve its ranking in the Fortune list. Earlier, the software services major was ranked 17 on Fortune Future 50 list released in October, 2017.