Cognizant Technology Solutions has trimmed its revenue guidance for fiscal 2026, a move that underscores lingering uncertainty in the IT services sector despite a solid second-quarter performance.
The company reported quarterly revenue of $5.5 billion, representing a 4.1% year-on-year increase in constant currency terms, which met its prior estimates.
Net profit fell 1.4% to $636 million, down slightly from $645 million in the same quarter last year.
However, the decision to lower the full-year outlook suggests management sees continued pressure ahead.
Profitability metrics showed mixed results.
Net profit fell 1.4% to $636 million, down slightly from $645 million in the same quarter last year.
Operating margins, however, improved by 30 basis points to 15.9%, indicating some efficiency gains amidst the revenue growth.