Feb 07, 2013 07:16 PM IST | Source: Reuters

Cognizant reports quarterly profit rise of 16%

IT services company Cognizant Technology Solutions Corp reported a higher quarterly profit as revenue from financial services clients jumped 20 percent.

Cognizant reports quarterly profit rise of 16%

IT services company Cognizant Technology Solutions Corp reported a higher quarterly profit as revenue from financial services clients jumped 20 percent.

Cognizant's net income rose 16 percent to USD 278.8 million, or 92 cents per share, in the fourth quarter, from USD 240.1 million, or 78 cents per share, a year earlier.

Total revenue rose 17 percent to USD 1.95 billion. Revenue from Cognizant's financial services business, which accounts for more than 40 percent of total revenue, rose to USD 815.4 million.

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