earnings
confidence high
sentiment neutral
materiality 0.72
Cognizant Q1 revenue $4.76B (down 1.1% YoY) beats high-end guidance; margin expands 50bps
COGNIZANT TECHNOLOGY SOLUTIONS CORP
2024-Q1 EPS reported
$1.10
revenue$4,760,000,000
- GAAP diluted EPS $1.10; adjusted diluted EPS $1.12, up from $1.11 YoY.
- Reported revenue down 1.1% YoY; constant currency down 1.2% but above high-end of guidance.
- Adjusted operating margin 15.1%, up 50 bps YoY; FY 2024 margin guidance unchanged at 15.3-15.5%.
- Signed eight deals each with total contract value over $100M; trailing 12-month bookings $25.9B (book-to-bill 1.3x).
- Returned $284M to shareholders via buybacks ($133M) and dividends ($151M); completed Thirdera acquisition.