Cognizant's research reveals that companies seeking AI adoption favour IT services firms offering custom, full-stack AI solutions, prioritising flexibility and expertise over cost and speed.
Cognizant reported a significant increase in net income for the December quarter, driven by AI efficiencies and strong performance in the financial services sector. The company also announced a major deal and provided guidance for the upcoming year.
US-based IT major Cognizant, which has a substantial number of employees in India, on Wednesday reported a better-than-expected growth with its revenue rising 7.3 per cent year-over-year to $5,415 million for the quarter ended September 2025. In the last quarter, the company had guided its third-quarter revenue to be between $5.27-5.35 billion.
Information-technology (IT) services major Cognizant has kept its full-year guidance on revenue growth unchanged at 3.5-6 per cent in constant currency even as the industry is becoming cautious about macro conditions because of tariff wars.
IT major Cognizant's subsidiary TriZetto has slapped a lawsuit on Infosys in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets and information related to healthcare insurance software. Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
Nasdaq-listed IT services company Cognizant has reported a 5.8 per cent year-on-year decline in consolidated net profit for the March quarter to $546 million. The company in a release said its revenue guidance for the full year 2024 is "unchanged" in the band of 2 per cent decline to a 2 per cent growth in constant currency.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
Cognizant Technology Solutions is infusing generative artificial intelligence (GenAI) into all its core offerings, chief executive Ravi Kumar S wrote in an internal note to its employees. Cognizant has 351,500 employees, a majority of whom are in India. Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
'Winning a deal is one aspect, making sure that we are able to execute it profitably is also important' says Rajesh Nambiar.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
While Wipro will announce its fourth quarter (Q4) results along with annual financial statements on April 15, market leader TCS will hold its board meet the next day (April 16) for approval of its financial statements. Infosys is yet to inform investors the date it will announce its Q4 earnings.
The studio, covering 20,000 ft with capacity for 250 employees, has a wellness zone, a usability lab and a range of creative spaces.
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
Besides working on better operational control, internal efficiency and leveraging of internal talent, Salil Parekh is also focusing on building a pipeline of leaders
Infy to cast wide net in CEO search, may go back to 'alumni'
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
The proposed campus will come up on around 125 acres, which the company will acquire from airport authorities, and would house as many as 3,000 employees.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
All major Indian IT services providers are keenly watching US President Donald Trump's potential actions on immigration law. Ayan Pramanik reports.
The Indian Weightlifting Federation (IWF) has decided to impose a two-year ban on the coaches of all those weightlifters who tested positive for banned substances across different championships in the last few months.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
Revenue rose 23.4 per cent to Rs 1,655 crore
Sources said the spin-off, a joint venture company, was yet to be named.
Amid Trump's expected action against employment visas, India's bellwether IT firms reveal they have been preparing for this eventuality for years.
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