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Cognizant profit rises on higher demand from Europe

IT services company Cognizant Technology Solutions Corp posted a higher quarterly profit on a 23 percent rise in demand from Europe.

May 08, 2013 / 05:33 PM IST

IT services company Cognizant Technology Solutions Corp posted a higher quarterly profit on a 23 percent rise in demand from Europe.


While spending on services such as consulting is yet to make a recovery, Cognizant is benefiting from growing outsourcing from European companies as instability in the region forces them to restructure and cut costs.


Net income rose to USD 284.2 million, or 93 cents per share, in the first quarter, from USD 243.7 million, or 79 cents per share, a year earlier.

Revenue for the quarter rose 18 percent to USD 2.02 billion.

first published: May 8, 2013 05:33 pm

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