Cognizant expects 20% revenue growth in 2010

Indian IT services provider Cognizant expects its revenues in 2010 to be 20% higher than in 2009.

Indian IT services provider Cognizant expects its revenues in 2010 to be 20% higher than in 2009.

In a clear statement of confidence, the company said recent investments have made it stronger. It reported revenues of $3.28bn for 2009, a 16% increase compared with the previous year.

Cognizant recruited 16,700 new employees in 2009, with more than 10,000 of these taken on in the final quarter of 2009, bringing its total workforce to about 78,400.

"Despite a very difficult economy, Cognizant delivered strong results, with 16% annual revenue growth," said Francisco D'Souza, CEO of Cognizant. "The investments we made in our business leave us in an even stronger position than when we entered 2009. During the year, we grew our workforce by more than 16,700 people, improved our employee utilisation, strengthened our client partnerships, and brought new services and capabilities to market."

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