Cognizant Q2 revenue flat, margins compress; CFO Siegmund to retire early 2024

COGNIZANT TECHNOLOGY SOLUTIONS CORP

2023-Q2 EPS reported $2.05 revenue$9,698,000,000

Q2 revenue $4.9B, -0.4% YoY (-0.1% CC); GAAP diluted EPS $0.91 vs $1.11.
GAAP operating margin 11.8% vs 15.5% last year; adjusted operating margin 14.2% vs 15.5%.
Q2 bookings +17% YoY; TTM bookings record $26.4B.
CFO Jan Siegmund to retire early 2024; will remain until successor found.
Reaffirms FY2023 revenue growth and adjusted operating margin guidance.

item 2.02 item 5.02 item 7.01 item 9.01

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Departed

Jan Siegmund

Chief Financial Officer

CTSH · COGNIZANT TECHNOLOGY SOLUTIONS CORP

Filed: August 2, 2023, 7:59 PM ET

On July 27, 2023, Jan Siegmund, Chief Financial Officer, informed the Company of his plans to retire in early 2024 to spend more time with family and friends and focus on philanthropy.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COGNIZANT TECHNOLOGY SOLUTIONS CORP reported the quarter ended June 30, 2023 results: revenue $4.9 billion, EPS $0.91. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: $4.9 billion
EPS: $0.91
Guidance: reaffirmed
Result: reported results

Exact text from the filing

are attached to this current report on Form 8-K as Exhibits 99.1 and 99.2, respectively.* --- EX-99.1 (EX-99.1) --- COGNIZANT REPORTS SECOND QUARTER 2023 RESULTS • Revenue of $4.9 billion declined 0.4% year-over-year, declined 0.1% in constant currency 1 • Q2 bookings growth of 17% year-over-year; record trailing 12-month bookings of $26.4 billion • Year-to-date

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jan Siegmund departed as Chief Financial Officer at COGNIZANT TECHNOLOGY SOLUTIONS CORP.

Action: retire
Role: Chief Financial Officer

Exact text from the filing

On July 27, 2023, Jan Siegmund, Chief Financial Officer, informed the Company of his plans to retire in early 2024 to spend more time with family and friends and focus on philanthropy.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

COGNIZANT TECHNOLOGY SOLUTIONS CORP filing history →

Source: SEC EDGAR

accession 0001058290-23-000255

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