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Cognizant joins offshore IT services firms in return to stable spending

Cognizant is the final IT services firm in India's top five to reveal a return to stability in spending among global corporations.

The IT services company announced a 43% increase in sales for its latest three-month period, compared to the same quarter last year. It reported a 4.6% increase compared with the previous quarter.

Cognizant completed $1.37bn sales and made $208.3m profit.

Although a US-listed company, Cognizant - which has most its staff in India - is widely considered an Indian player. The results are another indication businesses are spending on IT services again after a recent slowdown.

Its results echo those of the other major Indian suppliers. Infosys, HCL, TCS and Wipro have all announced results showing significant growth in the last quarter, compared with the year before, with steadier growth compared with the preceding three month period.

Cognizant also joined other Indian players in increasing the size of its workforce. It added 7,200 workers in the last quarter and now has a total of 111,000.

See this blog post for more information about Cognizant.

See the latest Gartner research about Global demand for IT services.


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