Cognizant cuts FY24 revenue forecast

BENGALURU: Cognizant has joined Infosys and HCL in reducing its revenue forecast for the ongoing fiscal year. The Nasdaq-listed firm expects its 2023 revenue to grow in the range of $19.3 billion to $19.4 billion, a decline of 0.7% to flat, compared to the prior range of $19.2 billion to $19.6 billion, or -1% to 1% in constant currency. The guidance includes a contribution of 110 basis points from acquisitions.
For the December quarter, Cognizant expects its revenue in the range of $4.6 billion to $4.8 billion.