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Cognizant Technology Solutions Corporation (CTSH) Q1 2025 Earnings Call
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) Q1 2025 earnings conference call, held 2025-04-30. Replay captured from the company's public earnings webcast.
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Investor webinar replay
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Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.197 year-over-year in constant currency driven by growth among life sciences and financial 00:00:05.197 -- 00:00:10.562 services clients including UK public sector which help drive strong 00:00:10.562 -- 00:00:16.048 constant currency sequential growth of about 4% in the UK. 00:00:16.048 -- 00:00:21.615 We are encouraged by our momentum in Europe which has been driven by new logos 00:00:21.615 -- 00:00:25.659 and a more focused sales strategy. 00:00:25.659 -- 00:00:29.898 The rest of the world increased about 7% year-over-year 00:00:29.898 -- 00:00:35.043 in constant currency. Growth was driven by recent large deals, particularly 00:00:35.043 -- 00:00:40.267 within comms, media and technology, and financial services. 00:00:40.549 -- 00:00:46.195 Turning to bookings. First quarter bookings declined 7% year-over-year, 00:00:46.195 -- 00:00:51.801 driven by a decline in rest of the world region, which had $200 million 00:00:51.801 -- 00:00:55.516 plus deals in the prior year period. 00:00:55.516 -- 00:01:00.622 The mix of new and expansion bookings grew significantly year-over-year 00:01:00.622 -- 00:01:05.809 and represented more than 50% of our quarterly bookings. 00:01:05.809 -- 00:01:12.197 On a trailing 12-month basis, bookings grew 3% year-over-year to 26.7 00:01:12.197 -- 00:01:15.661 billion and represented a 1.3x 00:01:15.661 -- 00:01:17.661 book-to-bill. 00:01:19.065 -- 00:01:24.316 Our pipeline continues to grow particularly for large deals, and we have seen 00:01:24.316 -- 00:01:29.099 healthy demand in applications, AI, and cybersecurity. 00:01:29.882 -- 00:01:32.365 Turning to margins. 00:01:32.365 -- 00:01:38.031 During the quarter, we sold an office complex in India for proceeds of 70 million 00:01:38.031 -- 00:01:43.135 a...