Cognizant posts higher 2nd-qtr profit

Cognizant Technology Solutions Corp reported a higher quarterly profit on increased demand for its outsourcing services.

The information technology services provider's net income rose to $251.9 million, or 82 cents per share, for the second quarter from $208 million, or 67 cents per share, a year earlier.

Excluding items, the company earned 88 cents per share.

Revenue rose 21 percent to $1.8 billion.