Cognizant Reports Third Quarter 2018 Results - Oct 30, 2018https://www.cognizant.com/content/dam/cognizant_foundation/investors/2018/q3-earnings-presentation.pdf - Quarterly revenue rose to $4.08 billion, up 8.3% from the year-ago quarter.
- Quarterly GAAP diluted EPS was $0.82, compared to $0.84 in the year-ago quarter.
- Quarterly non-GAAP diluted EPS2 was $1.19, compared to $0.98 in the year-ago quarter.
Revenue for the third quarter of 2018 rose to $4.08 billion, up 8.3% from $3.77 billion in the third quarter of 2017. GAAP operating margin was 18.3% and non-GAAP operating margin2 was 21.1% for the third quarter of 2018. Net income was $477 million, or $0.82 per diluted share, compared to $495 million, or $0.84 per diluted share, in the third quarter of 2017. The decrease in net income was primarily due to higher net non-operating foreign exchange losses in 2018 driven by the depreciation of the Indian rupee versus the prior year period. Non-GAAP diluted EPS was $1.19, compared to $0.98 in the third quarter of 2017.
"Cognizant delivered strong third-quarter results in three of our four business segments," said Francisco DSouza, Chief Executive Officer and Vice Chairman of the Board. "We made continued progress in our shift to digital by building new capabilities and helping our clients excel with digital services and solutions. We're speeding clients along their journey to create more engaging customer experiences, automate their processes, and modernize their technology foundations, a three-layer transformation we call digital at scale. Our performance this year demonstrates our ability to both invest for growth and achieve our financial targets."
