As their lower ranking rival Cognizant, the big three of Indian outsourcing companies have a lot to evaluate. This comes with the continued albeit slow rebound of the outsourcing market. For the company with estimated revenue of $939.1 million or a revenue growth by up to 26 percent, days before the release of Cognizant’s results analysts were already forecasting a strong. With the solid results received from its other Indian rivals, Wipro, Infosys and Tata Consultancy. Upon the release of the company’s first quarter results for 2010, most of the pleasantly surprised by the results posted by Cognizant with a 34 percent increase in profit surpassing everybody’s expectations. In the first quarter of last year, the company earned $151.5 million up from a profit of $113.1 million in the first quarter. The revenues rose 6.3 percent to $960 million compared with the prior quarter.
The cognizant is even now expecting a $55 million increase in revenue for the quarter and fiscal 2010 revenue of at least $4.1 billion up 25 percent compared to 2009. The performance is strong for the company as it continuously beats estimates quarter after quarter signaling continued improvement in the company’s operations. The case in point is Cognizant’s revenues which increased at least $200-500 million more than its rivals. The company’s laudably low attrition rate with a 122.4 percent rate on a twelve month basis. The company increased its workforce by more than 7,100 people the strength of the company’s business for the quarter. The company gave 200 percent bonuses toits top performers after its strong growth as of cognizant’s workforce numbered at around 85,500.
By being ahead of estimates, eyeing the trend that Cognizant has been following, it seems plausible that the company will reach its 2010 end of the year forecast and it will pleasantly surprise all once again. The cognizant should still be able to outgrow its larger peers in 2010. If the company continues its current performance.
REFERENCE:
http://www.blog.infinit-o.com/cognizant-outlook-bright-emerging-ahead-competitors/
