Cognizant Q3 Profit Down

(RTTNews) - Cognizant (CTSH) Wednesday reported third-quarter net income of $348 million or $0.64 per share, down from $497 million or $0.90 per share last year.

Adjusted earnings for the quarter were $0.97 per share, down from $1.08 per share last year.

Revenues for the quarter dropped slightly to $4.24 billion from $4.25 billion last year.

Looking forward, Cognizant expects full-year 2020 revenues to be at the high end of the previously guided range at about $16.7 billion. Adjusted earnings are now expected to between $3.63 and $3.67 per share, an increase from prior guidance of $3.48 to $3.58 per share.

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