Cognizant sees profits rise

Strong performance in Europe helps drive growth

profits are rising

Services company Cognizant has posted a fourth quarter profit rise of 21 per cent from $57.7m (£29.2m) to $69.5m.

Revenues advanced to $424.4m from $256.9m, as the company won more deals in Europe.

“Despite continued uncertainty in the marketplace, we exceeded our quarterly revenue guidance and our sequential growth once again outpaced our peer group in the second quarter,” said Francisco D’Souza, President and chief executive of Cognizant.

"Several of our business segments, including Financial Services, performed well during the quarter."