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Increased spending by clients in North America and Europe helped software solutions provider Cognizant Technology Solutions meet its first quarter revenue target of $2.42 billion, an increase of 19.9 per cent compared with the quarter ended March 31, 2013. Its profits grew 22.8 per cent to $348.87 million.
Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound Research, said Cognizant’s entry into the digital technology space was early compared to its peers, helping it consolidate its position in the market. Efforts in building a strong second tier of management have also bolstered the company’s image among clients.
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