Cognizant Shares Rise After Raising FY Adj EPS Guidance

Dow Jones07-29 23:53

Shares of Cognizant rose after the artificial intelligence product builder raised its full-year adjusted outlook.

Shares were recently up about 10%, at $55.45, in late Wednesday morning trading. The stock is up about 2% over the past three months.

For 2026, the company said it now expects adjusted diluted earnings of $5.70 to $5.82 a share.

"Our organic revenue growth momentum continued in the second quarter and was at the high end of our expectations," said Chief Executive Ravi Kumar S. "We are helping our clients close the AI velocity gap by pairing deep industry expertise with engineering, infrastructure and data modernization capabilities while safeguarding their data and IP. We are doing this by scaling our Frontier workforce and reskilling for the future."

Cognizant reported second-quarter net income of $636 million, or $1.36 a share, compared with $645 million, or $1.31 a share, a year earlier.

Adjusted earnings were $1.37 a share, compared with analysts' expectations of $1.38 a share, according to FactSet.

Revenue was $5.48 billion, compared with $5.25 billion a year earlier, and analysts polled by FactSet expected $5.48 billion.

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