Next event:

The QA Financial Forum: Chicago 2018

25 April, 2018
News and research on financial software quality assurance and risk management

Cognizant reports 2017 revenue of $14.81 billion, with spending from financial services up 5%

7 February 2018
Technology consultancy Cognizant has reported a 9.8% revenue increase for 2017, with spending continuing to rise from the financial services sector

Cognizant, the NASDAQ-listed technology consultancy, has announced in its annual and fourth quarter results an increased annual revenue of $14.8 billion in 2017, up 9.8% over the previous year. Over the course of the year, spending from financial services rose 5%, and accounted for 38.1% of the total revenue.

In a statement, Francisco D'Souza, Chief Executive Officer of Cognizant, explained that continued investments to enhance its digital services and consistent and solid execution throughout 2017 stood the company in good stead for a strong 2018.

“As companies that are already leaders in their industries integrate their domain knowledge with today's tremendously powerful technologies like artificial intelligence, analytics and cloud, we see a new generation of digital heavyweights emerging. Cognizant is resolved to be the go-to partner to these digital-industrial leaders and also to our fast-growing digital-native clients," he said.

A net loss of $18 million was reported in the fourth quarter, compared to net income of $416 million in the same quarter of 2016. But 2017 results included a one-time incremental income tax expense of $617 million related to US Tax Reform Act.

The QA Vector 500: your route to the right partner

Looking for a quality assurance, IT risk, or testing partner? Then you need access our expertly researched resource tracking the most important 500 service providers, from the largest to the most specialist.

Sign up now

Get the latest
by email

Newsletter Sign-Up
First Name*
Last Name*
Email*

I understand my contact details will be entered into your database and used to contact me by email with QA Financial's newsletter. See our privacy policy here.

Opted-in to receive newsletter
Source - newsletter sign-up form