During the first quarter, we delivered revenue above the high-end of our guidance range and continued to make progress against our strategic priorities. We have built upon our large deal momentum of 2023, signing eight deals during the quarter, each with a total contract value of at least $100 million. As our clients navigate an uncertain economic environment, we are adapting to the market dynamics by helping them achieve operational efficiencies, supporting their innovation agendas, and preparing them for AI- driven transformation across their businesses. Q1 2024 Ravi Kumar S | Chief Executive Officer ” Revenue $4.8 billion Reported YoY ê 1.1% Constant Currency YoY ê 1.2% GAAP Operating Margin | 14.6% GAAP EPS | $1.10 $3.5$1.0 $0.3 Rest of World 8.5% Revenue by Geography ($ In billions) Reported YoY | Constant Currency YoY Q1 2024 Cash Flow1 Cash Flow From Operations $95M Free Cash Flow $16M Q1 2024 Capital Return Dividends $151M Share Repurchases $133M $0.30/share Revenue by Segment ($ In billions) Reported YoY | Constant Currency YoY Europe North America 3.7% $1.4 $1.4$1.1 $0.9 Products & Resources Health Sciences Financial Services Communications, Media & Technology 0.0% 2.4% 0.7% 0.7% 5.2% 5.7% 1.3% 0.9% 6.2% 6.5% 1.2% 1.3% Total Employees 344,400 ” 1 Operating Cash Flow and Free Cash Flow include the negative impact from a previously disclosed $360 million payment made with the India tax authorities in connection with our ongoing appeal of a 2016 tax matter. (3,300) QoQ (7,100) YoY Voluntary - Tech Services Attrition (Trailing 12-Month) 13.1% é é é é é é é é é é é Adjusted Diluted EPS | $1.12 Employee Metrics Down 10 percentage points YoY Adjusted Operating Margin | 15.1% é é é é Company Recognition Named as of one Fortune’s “America's Most Innovative Companies” for the second consecutive year Ranked #3 on LinkedIn’s “Top Companies 2024” list for India For non-GAAP financial reconciliations refer to Cognizant's 2024 first quarter earnings release issued on May 1, 2024, which accompanies this presentation and is available at investors.cognizant.com. Exhibit 99.2
Cognizant Technology Solutions (CTSH) 8-KCognizant Reports First Quarter 2024 Results
Filed: 1 May 24, 4:03pm