Cognizant withdraws full-year guidance for 2020 amid Covid-19 uncertainties

Cognizant Technology Solutions Corporation has withdawn the full-year guidance on its financial performance for the year 2020 amid uncertainities brought on by the Covid-19 crisis. The withdrawal comes on the back of falling client demand, expecially in the travel and hospitality space.

The compaany put first quarter revenue at $4.22-4.23 billion, up 2.7-2.9 per cent (3.4-3.6 per cent in constant currency) over the previous year's quarter. This included a negative 50-basis-point impact from the exit of certain content services.

The company said today its financial