The company said full-year revenue declined $19.4 billion, or 0.4%, and declined 0.3% in constant currency. It said the full-year GAAP operating margin was 13.9% and Adjusted Operating Margin was 15.1%.

1. 01

   The company said full-year revenue declined $19.4 billion, or 0.4%, and declined 0.3% in constant currency. It said the full-year GAAP operating margin was 13.9% and Adjusted Operating Margin was 15.1%.

2. 02

   Cognizant added the full-year NextGen charges of $229 million to GAAP income from operations of $2,689 million to arrive at Adjusted Income From Operations of $2,918 million. The company said it expects NextGen costs in 2024 to be $70 million.

3. 03

   The company said full-year operating cash flow was $2.3 billion and free cash flow was $2.0 billion, which represented 95% of net income. It said free cash flow is operating cash flow of $2,330 million less purchases of property and equipment of $317 million.

4. 04

   The company said it expects full-year 2024 revenue to decline 2.0% to grow 2.0% in constant currency, Adjusted Operating Margin of 15.3% to 15.5%, and Adjusted EPS of $4.50 to $4.68. It also said it declared a quarterly cash dividend of $0.30 per share payable in February 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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