Cognizant net income down 6.64% in March quarter, revenue meets guidance

Firm added 1,400 employees during the quarter, to a total of 261,400 at the end of March, 2018

IT major Cognizant Technology Solutions Corporation has posted a 6.64 per cent decline in net income during the quarter ended March 31, 2018, at $520 million, from $557 million during the same quarter a year ago.

The revenue for the first quarter has met the guidance at $3.91 billion, up 10.45 per cent from the $3.55 billion registered in the corresponding quarter of previous year. 

“We achieved solid financial results in the first quarter and progressed our shift to digital services and solutions,” said Francisco D'Souza, Chief Executive Officer. 

“First quarter results demonstrate solid execution of our plan to drive