Cognizant Technology Sees Slightly Lower FY20 Revenue From Last Year
July 29 2020 - 5:18PM
Dow Jones News
By Kimberly Chin
Cognizant Technology Solutions Inc. expects slightly lower
revenue in fiscal 2020, as it takes into account the effects of its
exit of certain content-services businesses and the Covid-19
pandemic.
The professional-services firm anticipates full-year revenue
between $16.4 billion and $16.7 billion. Last year, it recorded
revenue of $16.78 billion.
On an adjusted basis, it expects earnings in the range of $3.48
to $3.58 a share.
The company withheld providing guidance last quarter.
Shares of Cognizant jumped 7.3% after hours to $69.50.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
July 29, 2020 17:03 ET (21:03 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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