Business Standard: Citi Research Commends Cognizant’s Q2-2013 Performance
Cognizant’s healthy results for the quarter-ended June, writes Business Standard, underlines “hopes of a strong recovery in demand for technology outsourcing services in global markets, especially in North America”. Cognizant, the paper notes, “not only recorded better-than-expected revenue growth, [but] also scaled up its annual revenue forecast by two percentage points to 19 percent”.
The paper quotes equity research firm Citi Research as writing, “It feels like the good old days. Cognizant beat revenue and EPS (earnings per share) expectations and it guided expectations higher than before — now, the full-year revenue forecast is almost at our much-higher-than-consensus estimate and still includes the use of ‘at least’ to form a lower bound on this estimate.”
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