Persbericht: Cognizant Reports First Quarter 2019 Results
First quarter 2019 revenue of $4.11 billion, up 5.1% (6.8% in constant currency) over 2018
Declares quarterly cash dividend of $0.20 per share
TEANECK, N.J., May 6 2019 – Cognizant Technology Solutions Corporation (Nasdaq: CTSH), one of the world’s leading professional services companies, today announced its first quarter 2019 financial results.
Highlights – First Quarter 2019
- Quarterly revenue rose to $4.11 billion, up 5.1% (6.8% in constant currency¹) from the year-ago quarter.
- GAAP operating margin was 13.1% compared to 17.7% in the year-ago quarter.
- Adjusted Operating Margin¹ was 16.0% compared to 17.7% in the year-ago quarter.
- Net income was $441 million compared to $520 million in the year-ago quarter.
- Quarterly GAAP diluted EPS was $0.77, compared to $0.88 in the year-ago quarter.
- Quarterly Adjusted Diluted EPS¹ was $0.91, compared to $0.94 in the year-ago quarter.
- First quarter 2019 GAAP operating results include the $117 million incremental accrual related to the India Defined Contribution Obligation².
“Cognizant’s growth and performance in the quarter leaves room for improvement,” said Brian Humphries, Chief Executive Officer. “While I am encouraged by our client centricity, our employees’ winning spirit and our innovation, we are not yet delivering against the market opportunity. We are committed to strengthening our execution to invest in growth and drive shareholder value.”
First Quarter 2019 Performance by Business Segment
Financial Services (34.9% of revenues) revenue declined 1.7% year-over-year and was flat in constant currency. Segment revenue was primarily impacted by continued softness in our business with a few of our largest banking clients and several insurance and >