WebSify
Follow us on
Mail
Print

Cognizant profit rises on higher demand from Europe

Source : REUTERS
Last Updated: Wed, May 08, 2013 10:49 hrs
Employees work on floor of outsourcing company WNS in Mumbai

IT services company Cognizant Technology Solutions Corp posted a higher quarterly profit on a 23 percent rise in demand from Europe.

While spending on services such as consulting is yet to make a recovery, Cognizant is benefiting from growing outsourcing from European companies as instability in the region forces them to restructure and cut costs.

Net income rose to $284.2 million, or 93 cents per share, in the first quarter, from $243.7 million, or 79 cents per share, a year earlier.



Revenue for the quarter rose 18 percent to $2.02 billion.

blog comments powered by Disqus
most popular on facebook
talking point on sify finance