Cognizant Earnings: Financial Services Show Resilient Growth; Project Leap Leads AI Efficiency Gains
Cognizant's third-quarter revenue grew 5% in constant currency, at the midpoint of its guidance. Adjusted operating margin improved by 30 basis points to 16.3%, reaching a four-year high. Management cut full-year growth guidance by 110 basis points at the top end, leading to a 6% selloff on Oct. 29.