Cognizant expects constant currency revenue growth of 8%-11%

Cognizant expects constant currency revenue growth of 8%-11%

US-based IT firm Cognizant has said it expects 8-11 per cent growth in its revenue in annual constant currency terms during 2022-24.

Discussing its growth strategy and outlook at an investor briefing, Cognizant said it expects annual constant currency revenue growth of 8 to 11 percent and annual operating margin expansion of 20 to 40 basis points during 2022-2024.

Cognizant is expected to close in the year 2021 with a revenue of US$ 18.5 billion. It said organic revenue is expected to grow by over 75 per cent in 2022-24, and that 2022 revenue growth is likely to be towards the high end of the multi-year outlook.

“We continue to make strong progress in positioning the company for continued revenue growth and margin expansion,” said Brian Humphries, Cognizant’s chief executive officer.

By executing a growth strategy that strengthens digital portfolios, partnerships and commercial engines while investing in a global distribution network, people and capabilities, Cognizant can help customers with their most strategic initiatives in their transformation journey, he said.

“I’m excited about the global opportunities that lie ahead to accelerate our growth, expand margins, and drive long-term shareholder value,” he said.

It has invested USD 2.5 billion in digital M&A acquisitions since 2019.

As part of the event, CFO Jan Siegmund shared additional details on Cognizant’s updated financial framework and capital deployment priorities, including 50 percent of free cash flow to strategic acquisitions, 25 percent to share repurchases, and 25 percent to join. are supposed to. Percentage for dividend.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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