The company said its Q2 2024 revenue was $4.85 billion, down 0.7% year over year, with a GAAP operating margin of 14.6% and an Adjusted Operating Margin of 15.2%.

1. 01

   The company said its Q2 2024 revenue was $4.85 billion, down 0.7% year over year, with a GAAP operating margin of 14.6% and an Adjusted Operating Margin of 15.2%.

2. 02

   Cognizant said NextGen charges for Q2 were $29 million ($117 million in the year-earlier quarter), net income was $566 million ($463 million a year earlier), and diluted earnings per share were $1.14.

3. 03

   The company said operating cash flow for the 6 months ended June 30, 2024 was $357 million and free cash flow was $199 million. It repurchased 0.9 million shares for $63 million in Q2, and the remaining authorization as of June 30 was $1.6 billion.

4. 04

   Cognizant said it set its full-year 2024 revenue outlook at $19.3 billion to $19.5 billion and its Adjusted Operating Margin outlook at 15.3% to 15.5%, and that the outlook excludes the effect of the Belcan acquisition. The company said the consideration for the Belcan acquisition is $1.3 billion in cash and stock.

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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