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Review Cognizant's (CTSH) international revenue performance and how it affects the predictions of financial analysts on Wall Street and the future prospects for the stock.

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Cognizant's (CTSH) second-quarter 2024 results suffer from a challenging macroeconomic environment and cautious client spending.

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Cognizant Technology Solutions Corporation (CTSH) Q2 2024 Earnings Call Transcript

Cognizant (CTSH) came out with quarterly earnings of $1.17 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.10 per share a year ago.

Cognizant Technology Solutions raised its annual revenue forecast and and beat second-quarter results estimates on Wednesday, aided by businesses turning to the IT services provider to digitize their operations.

Revenue of $4.9 billion, above the high end of our guidance range; sequentially increased 1.9%, or 2.1% in constant currency1 Operating margin of 14.6%, up from 11.8% in the second quarter of 2023, and Adjusted Operating Margin1 of 15.2%, which expanded 100 basis points year-over-year Trailing 12-month bookings of $26.2 billion; book-to-bill of 1.4x Third quarter of 2024 revenue guidance of flat to 1.5% year-over-year growth in constant currency Full-year 2024 revenue guidance narrowed to a decline of 0.5% to growth of 1.0% in constant currency, an increase at the midpoint Full-year 2024 Adjusted Operating Margin guidance unchanged at 15.3-15.5%, representing year-over-year expansion of 20 to 40 basis points TEANECK, N.J. , July 31, 2024 /PRNewswire/ -- Cognizant (Nasdaq: CTSH), one of the world's leading professional services companies, today announced its second quarter 2024 financial results.

-          77% of global companies surveyed want to grow revenues through AI -          Survey reveals that companies' average AI investment planned this year is nearly $50M -          Enterprises are cautious about scaling AI, with only 26% having implemented cross-enterprise use cases TEANECK, N.J. , July 30, 2024 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) has released a companion analysis to its comprehensive 2023 study with Oxford Economics, and the new report - titled "New Work, New World: Quantifying Global Gen AI Momentum " - outlines cautious optimism is driving current market adoption of generative AI across various industries and geographies.

Cognizant's (CTSH) second-quarter performance will likely reflect strength from an expanding clientele and a robust pipeline that includes a favorable mix of new opportunities.