Cognizant reports revenue rise of 10% in first-quarter

Although Cognizant reported a revenue rise of 10%, its net income for the first quarter fell to $520 million compared to $557 million from a year ago.

On Monday, Cognizant Technology Solutions Corp, an IT services company, stated, its revenues have risen by 10% stemming from higher spending by clients in the healthcare and financial industries.

It reported a fall in net income to $520 million, 88 cents per share, compared to $557 million, 92 cents per share, a year earlier.

Cognizant’s revenues have risen to $3.91 billion from $3.55 billion.

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