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Mar 31, 2022
Cognizant Q1 2022 Earnings Report
Delivered first quarter commitments amidst a competitive labor market.
Key Takeaways
Cognizant's Q1 2022 revenue reached $4.8 billion, a 9.7% year-over-year increase, with digital revenue growing by 20%. Bookings grew by 4% year-over-year, resulting in trailing 12-month bookings of $23.4 billion and a book-to-bill ratio of 1.2x. The company's full-year 2022 revenue growth guidance is set at 7.2% to 9.2%.
Revenue of $4.8 billion grew 9.7% year-over-year, or 10.9% in constant currency.
Digital revenue grew 20% year-over-year.
Bookings grew 4% year-over-year, with a trailing 12-month bookings of $23.4 billion, 1.2x book-to-bill.
Operating cash flow was $306 million, and free cash flow was $186 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company provided the following guidance: •Second quarter revenue is expected to be $4.90-$4.94 billion, or growth of 6.8%-7.8% (9.3%-10.3% in constant currency). •Full-year 2022 revenue is expected to be $19.8-$20.2 billion, or growth of 7.2%-9.2% (9.0%-11.0% in constant currency). •Full-year 2022 Adjusted Operating Margin2 is expected to expand 20 to 30 basis points to 15.6% to 15.7%.2 •Full-year 2022 Adjusted Diluted EPS2 is expected to be in the range of $4.45-$4.55.
Positive Outlook
- Second quarter revenue is expected to be $4.90-$4.94 billion, or growth of 6.8%-7.8% (9.3%-10.3% in constant currency).
- Full-year 2022 revenue is expected to be $19.8-$20.2 billion, or growth of 7.2%-9.2% (9.0%-11.0% in constant currency).
- Full-year 2022 Adjusted Operating Margin is expected to expand 20 to 30 basis points to 15.6% to 15.7%.
- Full-year 2022 Adjusted Diluted EPS is expected to be in the range of $4.45-$4.55.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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