From Nasdaq.: 2024-04-29 11:46:00

Cognizant Technology Solutions (CTSH) will report first-quarter 2024 results on May 1. Revenue expected between $4.68 billion and $4.76 billion, with a 2.7% to 1.2% decline, excluding acquisitions and forex impact. Zacks Consensus Estimate for revenue is $4.72 billion, down 1.89% year-over-year. Earnings estimate remains at $1.11 per share.

Cognizant surpassed earnings estimates in the last four quarters with an average surprise of 10%. Factors for Q1 2024 performance include an expanding clientele, large deal wins, and partnerships with companies like Alphabet and Microsoft. Focus on generative AI and NextGen initiative expected to drive growth.

In the healthcare sector, Cognizant’s investments in its TriZetto platform and partnerships with Microsoft and NVIDIA are set to accelerate growth. Collaborations with Microsoft and NVIDIA in integrating gen-AI technology into healthcare administration and drug discovery aim to enhance productivity and patient care. Financial services weakness may impact top-line growth.

Cognizant currently holds a Zacks Rank #4 (Sell). Upcoming earnings announcements can be tracked with the Zacks Earnings Calendar. Special offer of accessing all Zacks’ picks for $1 includes services like Surprise Trader and Technology Innovators.Companies analyzed include Alphabet, Microsoft, NVIDIA, and Cognizant.



Read more at Nasdaq.: Cognizant (CTSH) to Report Q1 Earnings: What’s in Store?