The IT giant Cognizant technologies report a 14.5 % hike with the highest-ever quarterly revenue, in Q4 2021. The company has generated revenue of $4.8 billion for the fourth quarter.
Cognizant Technology Solutions reported a net profit of 82 % at $576 million for Q4, which ended Dec 31, 2021. The Q4 of the last year 2020 was reported with $316 million.
The American MNC, headquartered in New Jersey is part of NASDAQ-100 and trades under CTSH. The firm posted a 10 % YoY revenue growth to $18.5 billion for the year 2021, marking the company’s return to double-digit annual revenue growth for the first time since 2015, reported as per source.
Cognizant’s digital revenue grows 20 % yearly. The company contributed 45 % to revenues for the December quarter as growth in the digital booking. Focus is continued on its priority areas of technology like – AI
(Artificial Intelligence), Analytics, cloud services, IoT(Internet of Things), and some others, as the report said.
18.8 % hike in revenue from financial services have been reported. As both Banking and insurance sector improved of digital services demand.
An 8.2 % hike in revenues from the healthcare sector has been reported annually by the company. As of demand of its integrated software solution for Healthcare clients.
The Cognizant employee base is around 3, 30, 600 worldwide. The company has recently onboarded about 33,000 new graduate hires(freshers) in 2021, from just India. The company also reported a reduced attrition rate to 31 % for the December quarter. The attrition rate of Cognizant before was 33 % in the preceding quarter, reports said.
