Cognizant Q2 net profit rises 11.6% to $509 million, cuts revenue guidance

The revenue at $4.14 billion grew 3.4% on YoY basis while in constant currency terms, the growth rate was 4.7%

Despite posting largely in-line second quarter numbers, IT services major Cognizant on Thursday further revised its revenue growth downwards for the whole year as the Teaneck-based company continues to pursue cost optimisation measures.

For the whole year, the company guided for a revenue growth in the range of 3.9-4.9 per cent in constant currency terms, which was lower than its previous guidance of 3.6-5.1 per cent issued in May.

For the second quarter ended June 30, Cognizant posted growth of 11.6 per cent in its net profit at $509 million as compared to the corresponding period in the previous year. The revenue