9th Feb,2012,Thursday
On the same day thatNasscom projected tepid revenue growth for software exporters, Cognizant Technology Solutionsoutperformed rivals once again with a strong show in 2011, and said it would continue into this year.
For the second quarter in a row, Cognizant added more incremental business than India's top three software exporters and said it expected to grow 23% to $7.53 billion in 2012, nearly twice the average projected by the National Association of Software and Services Companies (Nasscom).
Having already overtaken Wipro, Cognizant's guidance shows that only $100 million would separate it from Infosys in terms of revenues. Cognizant's revenue forecast of $1.7 billion is now dangerously close to Infosys' March quarter guidance of $1.80-1.81 billion.
"When we look at spending patterns for 2012, we continue to see normal budget cycles in North America and Europe. Our view remains that 2012 IT and operations budgets will remain flat with a slight upward bias in the US as the recovery continues," said Francisco D'Souza, CEO of Cognizant.
Cognizant's commentary was more confident than that of other India-based rivals. Outgrowing competitors for the sixth consecutive quarter, it reported a 5.7% increase in net profit at $240 million for the October-December period.
On the same day thatNasscom projected tepid revenue growth for software exporters, Cognizant Technology Solutionsoutperformed rivals once again with a strong show in 2011, and said it would continue into this year.
For the second quarter in a row, Cognizant added more incremental business than India's top three software exporters and said it expected to grow 23% to $7.53 billion in 2012, nearly twice the average projected by the National Association of Software and Services Companies (Nasscom).
Having already overtaken Wipro, Cognizant's guidance shows that only $100 million would separate it from Infosys in terms of revenues. Cognizant's revenue forecast of $1.7 billion is now dangerously close to Infosys' March quarter guidance of $1.80-1.81 billion.
"When we look at spending patterns for 2012, we continue to see normal budget cycles in North America and Europe. Our view remains that 2012 IT and operations budgets will remain flat with a slight upward bias in the US as the recovery continues," said Francisco D'Souza, CEO of Cognizant.
Cognizant's commentary was more confident than that of other India-based rivals. Outgrowing competitors for the sixth consecutive quarter, it reported a 5.7% increase in net profit at $240 million for the October-December period.
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