Cognizant Technology Solutions has reported revenues of $959.7m for the first quarter of 2010, an increase of 29% compared to $745.9m for the same period last year.
Cognizant’s earnings were $151.5m, or 49 cents per share, up from a profit of $113.1m, or $0.38 per share, in the same period a year earlier. While, its adjusted earnings were $0.53 per share in the latest quarter.
Gordon Coburn, chief financial and operating officer at Cognizant, said: “Our aggressive hiring throughout the world during the past two quarters positions us well to meet the broad demand for our services.”
The company said that the investments it made in new areas such as consulting and emerging markets during the economic downturn are paying off and for the full year its expects earnings of at least $2.10 per share, adjusted earnings of at least $2.26 per share and revenue of at least $4.1bn.
While, analysts are expecting earnings of $0.51 per share on revenue of $979.4m for Q2 2010.
