Authors: Super UserCognizant raised the lower-end of its full-year revenue guidance and said it had generated double-digit growth in the first quarter, as it focuses on digital technologies to drive its business.The Teaneck, New Jersey-headquartered company expects 2018 revenue of $16.05 billion to $16.30 billion, implying growth of 8-10% in reported currency terms.
In February, it had initially forecast 2018 revenue of $16 billion to $16.30 billion.For the first quarter, the IT company reported revenue of $3.91 billion, up 10% from the previous year.
The company expects revenue of $4 billion to $4.04 billion in the second quarter.We achieved solid financial results in the first quarter and progressed our shift to digital services and solutions, Francisco DSouza, Chief Executive Officer of Cognizant, said in a statement.
Cognizant said its digital services now contributed about 29% of its overall revenue.The companys headcount rose by 1400 sequentially to 261,400.
The companys annualized attrition was 20.3%.