Cognizant beats Infosys in quarterly revenues
08 Nov 2012
Cognizant Technology Solutions Corporation has for the second consecutive quarter overtaken Infosys in quarterly revenues. It has also overtaken the leader Tata Consultancy Services (TCS) in quarterly revenue growth.
The Nasdaq-listed Cognizant, with a substantial presence in India, remained as the second largest software company in the country following TCS during the quarter ended 30 September, wresting the position from Infosys, which had held the honours for almost two decades, in the June quarter.
Cognizant reported a 22-per cent rise in net income to $276.9 million for the third quarter ended 30 September, 2012 as against $227.1 million in 3Q of 2011.
Revenue for the third quarter was up at $1.892 billion, an 18.2 per cent rise from $1.601 billion in the third quarter of 2011, and up 5.4 per cent sequentially.
The fourth quarter 2012 revenue is anticipated to be at least $1.94 billion with fiscal 2012 revenue expected to be at least $7.34 billion, up at least 20 per cent against 2011, the company said in a statement.
''Our consulting-led approach, intimate client relationships, deep domain knowledge and robust execution give us the confidence to deliver revenue growth of at least 20 per cent in 2012,'' Francisco D'Souza, chief executive officer, Cognizant, said in a statement.
