Cognizant First Quarter 2019 Results |Second Quarter &Full Year Outlook 2019-Today Job Updates

Cognizant First Quarter 2019 Results: Cognizant Technology Solutions Corporation is one of the worlds leading professional services company Cognizant Recruitment is held for hiring candidates for their Esteemed organization now, Cognizant has already announced the first quarter results ON MAY 2, 2019. Candidates are awaited for the second quarter results as well. The Cognizant Second Quarter results 2019 are to be released soon. Follow our page today job updates for day to day estimation of Cognizant reports.

About Cognizant

Cognizant (Nasdaq-100: CTSH) is one of the world’s leading
professional services companies, transforming clients’ business, operating and
technology models for the digital era. Our unique industry-based, consultative
approach helps clients envision, build and run more innovative and efficient
businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune
500 and is consistently listed among the most admired companies in the world.
Learn how Cognizant helps clients lead with digital at
www.cognizant.com.




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 accruals related to India
    Defined Contribution Obligation2
“Cognizant’s
growth and performance in the quarter leave 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 Bussiness 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 insurance and North American regional banking clients. During the
quarter the company made progress in furthering its platforms and solutions
strategy for banking clients through the acquisition of MeritSoft.

Healthcare: (28.3% of revenues) revenue grew 3.9% year-over-year
and 4.6% in constant currency. Segment revenue was negatively impacted by
continued industry consolidation as well as the accelerated movement of work to
a captive at a large North American client. Life Sciences delivered above
company average growth, driven by large enterprise deals and momentum with our
industry-specific platforms.

Products and Resources: (22.2% of revenues)
revenue grew 11.3% year-over-year and 13.8% in constant currency, driven by
double-digit growth across key industries including retail and consumer goods,
travel and hospitality, and manufacturing, logistics, energy, and utilities. Results
reflect continued strength in cloud and digital engineering services and
increased demand for interactive, IoT and analytics solutions across clients.

Communications, Media and
Technology: 
(14.5% of revenues) revenue grew 16.9% year-over-year and 19.6%
in constant currency, led by growth among technology clients. Within media and
communications, growth was driven primarily by digital services for media and
entertainment clients to accelerate their transformation to modern media
companies, partially offset by slower growth with communications clients
involved in industry consolidation. Technology delivered double-digit growth
driven primarily by our digital content solutions.
Second Quarter &
Full Year 2019 Outlook
The Company is
providing the following guidance:
  • The second quarter of 2019
    year-over-year revenue growth in the range of 3.9-4.9% in constant
    currency.3
  • Full-year 2019 year-over-year
    revenue growth in the range of 3.6-5.1% in constant currency.3
  • Full-year 2019 Adjusted
    Operating Margin4 expected to be approximately 17.0%.
  • Full-year 2019 Adjusted Diluted
    EPS4 expected to be in the range of $3.87-$3.95.
“Our revised full-year outlook reflects the first-quarter underperformance and expectations
of slower growth in Financial Services and Healthcare for the remainder of
2019,” said Karen McLoughlin
,
Chief Financial Officer. “Over the coming quarters, we intend to bring
our cost structure closer in line with our revised revenue expectations while
continuing to invest in growth, talent, and our portfolio of innovative
solutions to speed our pivot to digital. Our strong balance sheet enables us to
maintain financial flexibility while returning capital to shareholders.”





Capital Deployment Plan – Dividend

The Company has declared a quarterly cash dividend of $0.20 per
share on Cognizant Class A common stock for shareholders of record at the close
of business on May
22, 2019
. This dividend will be payable on May 31, 2019.
Conference Call

Cognizant will host a conference call on May 2, 2019,
at 5:00 p.m. (Eastern)
to discuss the Company’s first quarter 2019 results. To listen to the
conference call, please dial (877) 810-9510 (domestically) or (201)
493-6778 (internationally) and provide the following conference passcode:
Cognizant Call.”
The conference call will also be available live on the Investor
Relations section of the Cognizant website at http://investors.cognizant.com.
Please go to the website at least 15 minutes prior to the call to register and
to download and install any necessary audio software. An earnings supplement
will also be available on the Cognizant website at the time of the conference
call.
For those who cannot access the live broadcast, a replay will be
available. To listen to the replay, please dial (877) 660-6853 (domestically)
or (201) 612-7415 (internationally) and enter 13689234 from two hours after the
end of the call until 11:59
p.m.
 (Eastern) on Thursday, May 16, 2019. The replay
will also be available at Cognizant’s website www.cognizant.com for
60 days following the call.

Forward-Looking
Statements:

This press release includes statements which
may constitute forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
accuracy of which are necessarily subject to risks, uncertainties, and
assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking
statements relating to our expectations regarding opportunities in the
marketplace, our cost structure, our financial flexibility, investment in and
growth of our business, our shift to digital solutions and services, our
anticipated financial performance, our capital deployment plan and the
incremental accrual related to India Defined Contribution Obligation. These
statements are neither promises nor guarantees but are subject to a variety of
risks and uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from those contemplated in these
forward-looking statements. Existing and prospective investors are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date hereof. Factors that could cause actual results to
differ materially from those expressed or implied include general economic
conditions, changes in the regulatory environment, including with respect to
immigration and taxes, and the other factors discussed in our most recent
Annual Report on Form 10-K and other filings with the Securities and Exchange
Commission. Cognizant undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events, or otherwise, except as may be required under applicable securities
law.


About Non-GAAP Financial Measures

To supplement our financial
results presented in accordance with GAAP, this press release includes
references to the following measures defined by the Securities and Exchange
Commission as non-GAAP financial measures: Adjusted Income From Operations,
Adjusted Operating Margin, Adjusted Diluted Earnings Per Share (“Adjusted
Diluted EPS”), free cash flow and constant currency revenue growth. These
non-GAAP financial measures are not based on any comprehensive set of
accounting rules or principles and should not be considered a substitute for,
or superior to, financial measures calculated in accordance with GAAP, and may
be different from non-GAAP financial measures used by other companies. In
addition, these non-GAAP financial measures should be read in conjunction with
our financial statements prepared in accordance with GAAP. The reconciliations
of our non-GAAP financial measures to the corresponding GAAP measures should be
carefully evaluated.

Our non-GAAP financial measures,
Adjusted Operating Margin and Adjusted Income From Operations, exclude unusually
items and Adjusted Diluted EPS additionally excludes net non-operating foreign
currency exchange gains or losses and the tax impact of all the applicable
adjustments. The income tax impact of each item is calculated by applying the
statutory rate and local tax regulations in the jurisdiction in which the item
was incurred. Free cash flow is defined as cash flows from operating activities
net of purchases of property and equipment. Constant currency revenue growth is
defined as revenues for a given period restated at the comparative period’s
foreign currency exchange rates measured against the comparative period’s
reported revenues.




More details and Tables to follow can be seen in the official site of Cognizant
OFFICIAL WEBSITE OF COGNIZANT: “CLICK HERE
Off-Campus | Pool Campus | Walk-In Interview Updates: “CLICK HERE

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