BENGALURU: Cognizant on Thursday reported a 2.1% year-on-year decline in its net profit for quarter ended December 2024 to $546 million compared to $558 million in the year-ago period. The company follows a January-December calendar year.
Its revenue in the December quarter jumped 6.8% to $5,082 million as against $4,758 million in the same quarter last year. The company’s 2024 revenue stood at $19.7 billion and full-year operating margin was at 14.7%, an increase of 80 basis points YoY.
In Q1 (Jan-March 2025), the company expects its revenue to be $5.0 - $5.1 billion, growth of 5.6-7.1%, or 6.5-8.0% in constant currency. Its employee count fell by 10,700 YoY to 3,36,800 in December 2024.
“We exited the year with momentum, closing a record 29 large deals during the year, highlighting the effectiveness of our strategy. In 2024, we accelerated investments in our AI-led platforms and added new capabilities with the acquisitions of Thirdera and Belcan, further strengthening and diversifying our portfolio,” said CEO Ravi Kumar S.
“Our focus on client centricity, agility and innovation is helping clients unlock next wave of hyper productivity and enterprise-grade generative AI adoption,” he added. Its voluntary attrition - tech services on a trailing-twelve months basis was 15.9% as against 13.8% for the period ended December 31, 2023. “We ended the year strong, delivering an adjusted operating margin of 15.7% in Q4 and 20 basis points expansion for the full year, above our guidance.”