Arab Today, arab today cognizant raises fullyear profit forecast
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

Cognizant raises full-year profit forecast

Arab Today, arab today

Arab Today, arab today Cognizant raises full-year profit forecast

New York - Arabstoday

Cognizant Technology Solutions Corp raised its full-year adjusted profit forecast as an increase in customer accounts helped the IT services provider report a higher-than-expected quarterly profit, sending its shares up 13 per cent. Cognizant’s upbeat outlook was in contrast to its peers Infosys Ltd and Wipro Ltd, who had forecast weak sales, citing slowing global outsourcing spend. Teaneck, New Jersey-based Cognizant had been gaining ground over its Indian rivals as it has traditionally worked with relatively lower margins, helping it to win more contracts while other IT services companies grapple with the slowing economy. “The majority of our growth for the remainder of 2012 will come from the ramp-up of clients that we won over the past months and years including recent transformational engagements such as ING US, Philips Electronics NV and others,” Chief Financial Officer Karen McLoughlin said on a conference call. The company entered into a $330 million deal in June with the US unit of Dutch insurer ING Groep NV to expand the business process management contract between the two. Cognizant raised its full-year adjusted earnings forecast to at least $3.64 per share from $3.62 per share. It reaffirmed its revenue forecast of at least $7.34 billion. Analysts on average were expecting full-year earnings of $3.37 per share on revenue of $7.34 billion, according to Thomson Reuters I/B/E/S. Cognizant expects its adjusted operating margin to remain in the range of 19 per cent to 20 per cent for the rest of the year. The margin rose to 20 per cent for April-June from 19.8 per cent a year earlier. The company, which was founded in 1994 as a captive unit of Dun & Bradstreet in India, said net income rose to $251.9 million, or 82 cents per share, for the second quarter from $208 million, or 67 cents per share, a year earlier. Excluding items, the company earned 88 cents per share. The company, which also competes with Accenture Plc and Computer Sciences Corp, said growth returned to some of its largest banking clients in the quarter. The company counts J.P. Morgan Chase & Co, Rabobank and UBS AG among its core banking clients. From:Gulftoday

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cognizant raises fullyear profit forecast Arab Today, arab today cognizant raises fullyear profit forecast

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today cognizant raises fullyear profit forecast Arab Today, arab today cognizant raises fullyear profit forecast

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday