Cognizant reports Q1 revenue of $4.8 billion, profit at $563 million

New Delhi: Cognizant on Thursday reported revenue of $4.8 billion for the January-March quarter- a growth of 9.7% year-over-year, or 10.9% in constant currency. Digital represented 50% of Cognizant’s total revenue.

Digital revenue grew 20% year-over-year, representing the continued demand environment as digital technologies become increasingly mainstream.

Cognizant's profit stood at $563 million from $505 million in the year-ago period.


“While the economic backdrop is uncertain, we remain optimistic about the demand outlook for our solutions. Our strategic repositioning enables us to engage more deeply with clients, helping them succeed, and supports our growth trajectory,” CEO Brian Humphries said.

The company expects second quarter revenue to be $4.90-$4.94 billion, with a growth of 6.8%-7.8% (9.3%-10.3% in constant currency).

Full-year 2022 revenue is expected to be $19.8-$20.2 billion, with a growth of 7.2%-- 9.2% (9.0%-11.0% in constant currency).

The company's headcount grew to more than 340,000 employees globally with an annual addition of 43,900.

Voluntary attrition decreased for the second consecutive quarter, even as Cognizant added approximately 9,800 new employees in the first quarter.