---
schema_version: "secwatch.filing_event.v1"
accession: "0001058290-23-000019"
form_type: "8-K"
ticker: "CTSH"
cik: "0001058290"
company_name: "COGNIZANT TECHNOLOGY SOLUTIONS CORP"
filed_at: "2023-02-02T23:59:59+00:00"
generated_at: "2026-06-20T01:45:56.852128+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cognizant guides Q1 revenue down 1.5-2.5%; Q4 EPS $1.02 vs $1.10; $59M impairment

## Summary
- Q4 revenue $4.8B (+1.3% YoY); FY revenue $19.4B (+5% YoY); GAAP EPS Q4 $1.02, FY $4.41; adjusted $1.01 and $4.40.
- Q1 2023 guidance: reported revenue decline 1.5% to 2.5%; constant currency decline 1.0% to flat.
- $59M impairment of capitalized costs on a Health Sciences contract; GAAP operating margin 14.2% in Q4, 15.3% for FY.
- Cash dividend raised 7% to $0.29 per share; $2.0B returned to shareholders in 2022 via buybacks and dividends.
- Board appoints Eric Branderiz (former Enphase CFO) as independent director; Maureen Breakiron-Evans not standing for re-election.

## SEC filing metadata
- accession: 0001058290-23-000019
- form_type: 8-K
- ticker: CTSH
- cik: 0001058290
- company_name: COGNIZANT TECHNOLOGY SOLUTIONS CORP
- filed_at: 2023-02-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/0001058290-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/ctsh-20230127.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058290-23-000019
- JSON: https://secwatch.observer/filing/0001058290-23-000019.json
- Plain text: https://secwatch.observer/filing/0001058290-23-000019.txt

## Key facts
- Earnings Releases
  COGNIZANT TECHNOLOGY SOLUTIONS CORP reported quarter ended December 31, 2022 results: revenue $4.8 billion, EPS GAAP Diluted EPS $1.02. Guidance initiated.
  - Period: quarter ended December 31, 2022
  - Revenue: $4.8 billion
  - EPS: GAAP Diluted EPS $1.02
  - Guidance: initiated
  - Result: reported results
  source text: current report on Form 8-K as Exhibits 99.1 and 99.2, respectively.* --- EX-99.1 (EX-99.1) --- COGNIZANT REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS • Q4 revenue of $4.8 billion grew 1.3% year-over-year, or 4.1% in constant currency 1 • Full-year revenue of $19.4 billion grew 5.0% year-over-year, or 7.5% in constant currency • Full-year operating cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/0001058290-23-000019-index.htm
- Earnings Releases
  COGNIZANT TECHNOLOGY SOLUTIONS CORP reported FY 2022 results: revenue $19.4 billion, EPS GAAP Diluted EPS $4.41. Guidance initiated.
  - Period: FY 2022
  - Revenue: $19.4 billion
  - EPS: GAAP Diluted EPS $4.41
  - Guidance: initiated
  - Result: reported results
  source text: --- COGNIZANT REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS • Q4 revenue of $4.8 billion grew 1.3% year-over-year, or 4.1% in constant currency 1 • Full-year revenue of $19.4 billion grew 5.0% year-over-year, or 7.5% in constant currency • Full-year operating cash flow of $2.6 billion and free cash flow 1 of $2.2 billion • $2.0 billion returned to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/0001058290-23-000019-index.htm
- Executive change
  Eric Branderiz was appointed as Director at COGNIZANT TECHNOLOGY SOLUTIONS CORP.
  - Action: appointed
  - Role: Director
  source text: appointed Eric Branderiz to the Board, effective February 21, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/0001058290-23-000019-index.htm
- Executive change
  Maureen Breakiron-Evans departed as Director at COGNIZANT TECHNOLOGY SOLUTIONS CORP.
  - Action: not standing for re-election
  - Role: Director
  source text: Maureen Breakiron-Evans, who has been a member of the Board since 2009, informed the Company’s Board that she will not stand for re-election at the Company’s 2023 annual meeting of shareholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058290/000105829023000019/0001058290-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.