IT major Cognizant on Thursday reported revenues of $5.4 billion for the quarter ending March 2026, a 3.9 per cent year on year growth in constant currency terms on the back of a double-digit growth in financial services vertical.
The growth was within Cognizant’s guidance range and the company has now guided a constant currency growth of 3.2 per cent to 4.7 per cent for the quarter ending June 2026. For the full year 2026, the IT major kept its guidance unchanged at 4-6.5 per cent in constant currency terms.
At a press conference after the announcement of its results, Jatin Dalal, CFO, Cognizant, said that despite seeing robust deal momentum, the company’s full year guidance remains unchanged considering the current geopolitical environment.
The net profit was flat at $662 million ($663 million).
On a trailing-twelve-month basis, bookings increased 11 per cent year-over-year to $29.6 billion including seven large deals (contract value of $100 million or greater) and one mega deal of contract value of $500 million or greater.
Cognizant also announced that it has entered into a definitive agreement to acquire Astreya, a US-based IT managed services and solutions provider for data centre hyperscalers, for an undisclosed sum.
“Astreya is an AI infrastructure built out company with data centre and network services. It’s one of the pieces of the puzzle for the AI builder stack. for us, and fits in complementary to all the infrastructure services we have been offering,” Cognizant CEO Ravi Kumar S, said.
Cognizant beat its peers in the quarter in revenue growth (on a CC basis) . Infosys posted growth of 4.1 per cent, Wipro 0.2 per cent, and HCL Tech 2.4 per cent, while TCS clocked a de-growth of 0.6 per cent on a year-on-year basis in the quarter ended March 2026.
Cognizant reported a headcount of 3,57,600 as of March 31, 2025, an increase of 21,300 on a year-on-year basis and 6,000 on a sequential basis.
Attrition rate
Voluntary attrition (on a trailing 12-month basis) was 12.3 per cent, compared to 15.8 per cent in the year-ago quarter. The company has however modified its definition of attrition excluding certain categories of negotiated separations.
“In a complex macroeconomic environment, we delivered first quarter revenue growth in the upper half of our guidance range, with sustained bookings momentum and Financial Services again leading performance. We signed seven large deals in the quarter and delivered over 70 per cent large deal total contract value growth year-over-year,” said Kumar.
While geographically, the company saw the highest growth in North America at 4.9 per cent on-year in CC terms, financial services bounced back to double digit growth at 10.2 per cent.
Published on April 29, 2026