Cognizant said revenue for the quarter ended September 30, 2024 rose $147 million from a year earlier, or 3.0% (2.7% on a constant currency basis). The company said its recently completed acquisitions contributed approximately 200 basis points to revenue growth.

10-QQuarterly reportFiled Oct 31, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Cognizant said revenue for the quarter ended September 30, 2024 rose $147 million from a year earlier, or 3.0% (2.7% on a constant currency basis). The company said its recently completed acquisitions contributed approximately 200 basis points to revenue growth.
The company said its operating margin for Q3 2024 was 14.6% (14.0% a year earlier), and its Adjusted Operating Margin was 15.3% (15.5% a year earlier). It said net savings from the NextGen program and the effect of currency movements had an impact on margins, while higher compensation costs and costs tied to acquisitions and amortization of acquired intangibles weighed on them.
The company said it incurred $33 million in NextGen program costs in Q3 2024 and $314 million in cumulative costs since the program began. It said it expects to incur approximately $105 million in 2024 and approximately $335 million in total program costs.
The company said it borrowed $600 million under its revolving credit facility on Q3 2024, partly to fund the Belcan acquisition, which left approximately $1.3 billion available under the facility. It said cash, cash equivalents and short-term investments were $2,025 million as of September 30, 2024.

Key figures

Quarter ended September 30, 2024

Revenue: $5.0B
Operating income: $738M
Net income: $582M
EPS: $1.17

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Revenue Growth in Q3 2024

Cognizant said revenue for the quarter ended September 30, 2024 rose $147 million from a year earlier, or 3.0% (2.7% on a constant currency basis). The company said its recently completed acquisitions contributed approximately 200 basis points to revenue growth.

Source · Based on the MD&A text of the filing

Quarterly Operating Margin Change

The company said its operating margin for Q3 2024 was 14.6% (14.0% a year earlier), and its Adjusted Operating Margin was 15.3% (15.5% a year earlier). It said net savings from the NextGen program and the effect of currency movements had an impact on margins, while higher compensation costs and costs tied to acquisitions and amortization of acquired intangibles weighed on them.

Source · Based on the MD&A text of the filing

NextGen Program Costs

The company said it incurred $33 million in NextGen program costs in Q3 2024 and $314 million in cumulative costs since the program began. It said it expects to incur approximately $105 million in 2024 and approximately $335 million in total program costs.

Source · Based on the MD&A text of the filing

Borrowings Related to Belcan Acquisition

The company said it borrowed $600 million under its revolving credit facility on Q3 2024, partly to fund the Belcan acquisition, which left approximately $1.3 billion available under the facility. It said cash, cash equivalents and short-term investments were $2,025 million as of September 30, 2024.

Source · Based on the MD&A text of the filing

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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