Cognizant Reports Second Quarter 2024 Results

About this update from Cognizant Technology Solutions Corporation

[{"type":"text","content":"Revenue of $4.9 billion, above the high end of our guidance range; sequentially increased 1.9%, or 2.1% in constant currency1Operating margin of 14.6%, up from 11.8% in the second quarter of 2023, and Adjusted Operating Margin1 of 15.2%, which expanded 100 basis points year-over-yearTrailing 12-month bookings of $26.2 billion; book-to-bill of 1.4xThird quarter of 2024 revenue guidance of flat to 1.5% year-over-year growth in constant currencyFull-year 2024 revenue guidance narrowed to a decline of 0.5% to growth of 1.0% in constant currency, an increase at the midpointFull-year 2024 Adjusted Operating Margin guidance unchanged at 15.3-15.5%, representing year-over-year expansion of 20 to 40 basis pointsTEANECK, N.J., July 31, 2024 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), one of the world's leading professional services companies, today announced its second quarter 2024 financial results.\n\n \n \n\n\n\n\n\n\n \n\"In the second quarter, we delivered revenue above the high end of our guidance range, expanded adjusted operating margin, and maintained our large deal momentum,\" said Ravi Kumar S, Chief Executive Officer. \"Progress against our strategic priorities is opening new opportunities with clients and allowing us to operate with greater agility. We believe our performance this quarter and the improved organic growth outlook for the full year demonstrate how our execution against these priorities is beginning to translate to our results and support long-term shareholder value.\"\n$ in billions, except per share data\nQ2 2024\nQ2 2023\nRevenue\n$4.85\n$4.89\nY/Y Change\n(0.7 %)\n(0.4 %)\nY/Y Change CC1\n(0.5 %)\n(0.1 %)\nGAAP Operating Margin\n14.6 %\n11.8 %\nAdjusted Operating Margin1\n15.2 %\n14.2 %\nGAAP Diluted EPS\n$1.14\n$0.91\nAdjusted Diluted EPS1\n$1.17\n$1.10\n1\nConstant currency (\"CC\") revenue growth, Adjusted Operating Margin, and Adjusted Diluted Earnings Per Share (\"Adjusted Diluted EPS\") are not measures of financial performance prepared in accordance with GAAP. A full reconciliation of Adjusted Operating Margin guidance to the corresponding GAAP measure on a forward-looking basis cannot be provided without unreasonable efforts. See \"About Non-GAAP Financial Measures and Performance Metrics\" for more information and, as applicable, reconciliations to the most directly comparable GAAP financial measures.\...

More updates from Cognizant Technology Solutions Corporation