Thursday, July 29, 2021

Cognizant’s Announces Healthy Financial Results For Q2 2021

Some key highlights:

Q2 2021 is Cognizant’s highest-ever quarterly revenue, and the largest-percentage quarterly growth since 2015

Cognizant beat expectations this quarter (revenue was $125 million above the high-end of the company’s guidance range)

Cognizant employs more than 300,000 for the first time in its history, marking the company’s highest-ever headcount to date

In addition strong financial performance, we also put an intense focus on helping our associates. We’ve vaccinated 160,000 of our associates and families and have set up nearly 1,000 COVID-19 hospital beds for communities in India.

Cognizant CEO Brian Humphries’ quote in the press release provides context: “We delivered a strong second quarter. Through targeted investments, we’ve been shifting our portfolio to faster-growing market segments while extending our capabilities and partnerships to help clients build modern businesses. I see a stronger, more competitive Cognizant emerging, with growing commercial momentum. We are bullish on the industry and our prospects within it.”

Cognizant CFO Jan Siegmund is also quoted:   

“Second quarter top-line results exceeded our guidance, driven by improved demand for our services and momentum in our digital revenue, and we increased our full-year 2021 revenue growth to 10.2-11.2%,” said Jan Siegmund, Chief Financial Officer. “To meet the strong client demand for our services, we have continued to scale our recruiting capabilities and invest in our people."

Additional highlights:

Revenue of $4.6 billion grew 14.6% year-over-year (12.0% in constant currency)

Digital revenue grew approximately 20% year-over-year

$1.5 billion deployed on acquisitions, share repurchases and dividends year-to-date

2021 revenue growth guidance increased to 10.2-11.2%, or 9.0-10.0% in constant currency.

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