INSUBCONTINENT EXCLUSIVE:
Cognizants clients in the healthcare and financial industries spent more for its services in the quarterCognizant Technology Solutions Corp
topped analysts' estimates for quarterly profit on Thursday, as clients in the healthcare and financial industries spent more for its
services.The company has been investing heavily in its digital services amid a tight cap on spending from its clients
Cognizant gets the largest chunk of its revenue from financial services and healthcare clients.Revenue from its financial services sector,
which accounts for more than a third of its total revenue, rose 4.5 per cent, while revenue from healthcare services rose 10.1 per cent in
the second quarter.Cognizant said it expected current-quarter revenue to be between $4.06 billion and $4.10 billion, below analysts' average
estimate of $4.12 billion, according to Thomson Reuters.The Teaneck, New Jersey-based company said net income fell to $456 million, or 78
cents per share, in the second quarter ended June 30 from $470 million, or 80 cents per share, a year earlier.Excluding items, the company
earned $1.19 per share.Revenue rose to $4.01 billion from $3.67 billion.Analysts on average had expected profit of $1.10 per share and
revenue of $4.03 billion, according to Thomson Reuters.© Thomson Reuters 2018
