Cognizant forecasts highest-ever revenue growth of 8.5-11.5%  for 2022

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Biznextindia : Nasdaq listed IT services company Cognizant  expects its full 2022 year revenue growth will be at 8.5% to 11.5% in constant currency to cross USD 20 billion.

The company on Thursday reported 14.5% revenue growth at USD 4.8 billion in the fourth quarter (October-December) of 2021. With this, the company has reported an annual revenue growth of 10% to USD 18.5 billion. The company has reported highest ever adjusted earnings per share at USD 4.12.

The company has added record 330,600 staffs in 2021 including 33,000 in 2021.

I’m proud of Cognizant’s broad-based progress over the past year. We successfully executed our strategy by meaningfully enhancing our digital portfolio, strengthening our international presence, and helping our clients be successful. We enter 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity” said Brian Humphries, Chief Executive Officer.

“During 2021, we continued to invest in our people and strategic initiatives while navigating the heightened cost pressures driven by the labor supply demand imbalance. With $2.7 billion of cash and short-term investments and free cash flow in excess of 100% of net income, we are well-positioned to execute our balanced capital allocation framework, including the third consecutive annual increase of the dividend we announced today” said Jan Sigmund, Chief Financial Officer.

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