Cognizant Q4 results mark its return to double digit annual revenue growth

Cognizant also guided that for FY2022 it expects revenue growth to be in the range of 8.5 per cent to 11.5 per cent, which means revenue outlook of $20 billion to $20.5 billion.

Nasdaq-listed IT services company Cognizant reported a growth of 10 per cent in its annual revenue for financial year 2021 (FY21; it follows a January-December financial calendar) at $18.5 billion, marking the company’s return to double-digit annual revenue growth for the first time since 2015. The firm plans to onboard 50,000 freshers in India in FY22.

However, analyst tracking the company said that though the growth and commentary is strong, Cognizant continues to trail its rivals.

In the fourth quarter (Q4) the company reported revenue of $4.78 billion, up 14.2 per cent year-on-year (YoY), but was flat when compared to sequentially.

Cognizant also