Cognizant 2nd Quarter Results crossed expectations

Cognizant 2nd Quarter Results crossed expectations: One of the Top IT  company  Cognizant is released 2nd  Results today.  In terms of business verticals, healthcare grew 6.2% sequentially  and 11.8% YoY; financial services grew 6.5% sequentially and 23.6% YoY;  manufacturing and retail grew 8.4% sequentially and 28.7% YoY.

Cognizant's quarterly revenue increased to to $2.161 billion, up 7% sequentially and 20.4% from the year-ago quarter. In the History of Cognizant $141 million revenue is the Second highest revenue. Generally accepted accounting principles (GAAP ) net income was $300.4 million, and it is increased by 5.7% sequentially and 19.2% from the last year quarter.  The growth of Cognizant world wide,  Europe grew 11% sequentially and 37% YoY.  Rest of the World grew 7% sequentially and 25% YoY.North America grew 6% sequentially and 17% YoY.

CEO of Cognizant Francisco D'Souza, released to the press "Our 15 year record of revenue and earnings growth is a testament to our long-term strategy of reinvesting in our business to stay relevant to our clients' changing needs and to provide increasing value as we grow each of those trusted relationships.
This reinvestment strategy continues to enable Cognizant to excel in our core services while simultaneously investing in multiple horizons of growth, thereby continuing to position us well for the future,"