afternoon, good and Brian, you, Thank everyone.
of and For currency. was in the of constant billion revenue growth X.X% currency. represented year-over-year, range year-over-year, Fourth represented guided quarter X.X% revenue to or the of billion X.X% $X.X of high our end and full-year in $XX.X growth above increased XXXX, X.X% or constant
approximately total out-performance for continues quarter. revenue industries. versus was of Digital guidance above the our revenue across represented and to XX% XX% broad-based The year-over-year grow revenues
industry X.X% constant was insurance. the to in year-over-year verticals, by currency growth primarily Financial up driven Services Moving
project-based the that QX. QX, not However, did we the in from work in extend benefited
slowdown reflecting We and furloughs. end in typical sequentially, year Banking seasonality saw modest a
Brian some global by Banking slowness in be of certain As well continues negatively within few our other as to mentioned clients. as accounts, regional impacted our performance and a
budgets of uncertainty with our broadly UK persists, expect we and few Europe within better our continued American positioned uncertainty Brexit macro with relative to accounts. banks While a and North to be in challenges ongoing largest stable Banking given Continental XXXX,
we Banking. continue Against backdrop, for to a muted have that outlook
of to are re-position steps in our taken However, we has growth. the for new initial confident Head us Banking
and this expect deeper drive robust centricity client marketing. account We planning and to more
more By partnering with bring ensure well also we ease leadership repeatability, we our a solutions with align of thought digital partners. business have develop key relevance we implemented increase to and banks, to compelling team ensure to better
demand from returned which year-over-year benefiting Healthcare, Technologies. the sciences again growth within Zenith strong X.X% operations Life up to and currency. digital of digits on double constant Moving to contribution in grew year-over-year
covering continued XX users Additionally, we across our for portal momentum which clinical shared in XXX trials. investigator specific solutions industry countries within XX,XXX over facilities see over the platform such has as active trials,
Within work continued shift by the continues involved at our Healthcare year-over-year to large as declined performance vertical, revenue the in large be clients client. impacted and primarily mergers a mid-single-digits of to captive
similar as in QX in We in the trends trends in expect impacted beginning that year-over-year the QX the year-over-year in business and headwinds we in improvement XXXX. lap Healthcare the Healthcare vertical
growth year, cautious the We a approach we later vertical. Healthcare in this cautious maintaining for payers, expect so spend as we're and the the with continued healthcare US elections outlook
Resources & currency. constant in grew year-over-year Products X.X%
Resources year-over-year work last in XXXX. basis logos contribution of call, slower mentioned we a with the on the on fourth new ramp in we quarter up the QX our As & of the earnings in as and made Products expected lapped acquisitions growth
in across demand growth continued our the cloud that We we quarter services these based digital engineering, solutions. the And modernization IoT industries. applications, expect reflect of to for in trends continue growth be enterprise to Results for were pleased and core broad and XXXX.
Technology Media and core by where services. saw in grew acceleration transformation an for currency, in and in constant segment year-over-year modernization vertical an Our Media Communications increase the X% & demand cloud driven services Communications, we in
digital into We companies solid traditional clients telco telecom performance of look continued providers. to expect service transform to as
across and personalized and hyper and consumers. for technologies driving media new services create Additionally, in experiences and we communications see convergence investments companies and consumption engaging
of more business portions certain the Technology, services negatively approximately business. the expected basis segment points, exit from content negatively $XX growth This my growth the impacted In decision XXX exit impacted XXXX provide the our services I'll and full-year on of to million. by CMT or guidance. certain was by our color impact in QX decision to year-over-year of parts our content
UK currency, also Now, geos. growth environment to industries both weigh in in specific were have some in turning and cautious Cognizant grew slowdown macro UK, continues which the the spend large constant across in year-over-year We while banking on few with we Europe. challenges to Continental X.X% reflecting clients. more in disappointed a a Europe, A
performance world year-over-year of quarters. grew currency, in constant rest XX.X% in The the seven strongest
While and Japan growth in our global sciences. continue to have in Australia and such relationships seen Asia-Pacific, as life traction in banking improved pressure we countries insurance
Moving on EPS XX% operating in XX.X% margin, to charges, diluted and and our operating our $X.XX. was respectively. GAAP were adjusted restructuring and Adjusted $X.XX, was margins, QX, margin diluted which excludes EPS
certain getting holidays in and rate associated company more other India lower electing incentives, at income to an the I the into to on is into compared margins, including to elect the companies provide economic enables update regime credit of Before tax forego domestic a on MAT to tax special want details enactment required rate XX% XX%. zones taxed that tax any with new carry-forward. the an tax rate of who of current be The
the MAT our is intent rate to current Our are elect utilized. assets lower substantially into once existing
As recorded This income we quarter. existing deferred a of asset. negative India tax impact million a $XX the EPS lower of had a the $X.XX result, revaluations the rate on due GAAP net to one-time tax our tax income to expense income in net
and Our basis million year-over-year, The set gross $X.XX. continued offset write-off adjusted reflecting operating pressure $XX on by SG&A margin a customer. a XX capitalized up negatively large by margins, gross certain for healthcare was costs write-off including of discipline, impacted margins points flat EPS by
with start we taken quarters overhead on to year-over-year steps the business, benefits structure, reducing several improvement size right cost our to have the focused last evident primarily SG&A. those the in in in Over
as talent and resources, and savings fund such These planned sales are the to investments Company. areas necessary lean branding, enhancements across additional automation in the
take legacy we business face as actions the around with aligning year-over-year in gross However, rates parts additional in that pricing levers to of such require pyramid declined optimizations COLA our promotions. continue and pressure to margins pricing XXXX as us bill and
these on We expect Fit this additional For quarter Fit announced the the taken to later Growth I'll an Plan in XXXX as last under the provide details areas. well For call. of in expected QX plan as XXXX improvements our Growth that Plan we update in on the actions drive execution
Turning $XXX $X.X at sheet, year $X.X billion from repurchases cash deployed billion September to on $X.X reflecting December short-term balance XX, XX, stood and our period, XXXX billion, up investment approximately of down the balance ago our as over completed share million of and but million the from in approximately $XXX acquisitions.
includes related our As department. Tax a short-term investments investment $XXX India Income the balance ongoing of reminder, the short-term to with restricted million dispute
to and balance the fourth sheet. change to practice quarter, our from DSOs days we our improved We made in our of related $XXX customers free year-over-year industry due accounting with better of improved DSO sequentially to million In X strong day. quarter X flow On DSO a better the policy amounts due align collections. reflect basis the generated on to cash XX by and a days
and our This in reflecting to as net with those as customers amounts our due we operating or change have amounts rather sheet. on started discounts any receivable such balance accounts results impact trade than rebates certain cash to does liability flows. a Beginning on not QX,
Our there outstanding revolver. no $XXX was at and balance was outstanding end balance of the the debt on the million quarter
for shares XXX approximately approximately we fourth quarter. million million our million $XXX $X.X for quarter, opportunistically diluted XX XXXX, X.X the the repurchased approximately count we In decreased share over shares to and repurchased for During million billion. shares
second our quarterly XX% a are dividend, announcing dividend we XXXX. we the the since in increase increase initiated cash Today, to
share billion $X has Board the our increase approved repurchase authorization. Additionally, in a
progress update as Plan to the on let Fit Growth XXXX well the content in of as For turn exiting. provide me we an are the that of guidance, work the I Before process
revenue two XXXX aimed accelerating work, expected years. growth. is our our Growth Plan for the program is fund designed at for way structure Our we investments to Fit to simplify This cost improve run and
As current from associates remove XX,XXX their expect XX,XXX previously roles. to announced, level to mid-to-senior we
have every productive that reskill roles We new to associates opportunity assume based within the the and will approximately client roles identify Company. demand to X,XXX effort will make on for to continue
the QX including the In associates. we for as charges rate QX of end result in expect of charges associates, whom $XX most with and Growth not the charges, QX, Company Plan. approximately For of a will exit These will of the XXX relate by incurred million impact Fit $XX we expect we first cash million until of $XX quarter, of severance to million achieved run savings in these approximately full part
associates expect remaining the the continue Company of mid-XXXX. to We by to the exit majority
we this managing seriously. employees, any our very carefully process it time are decisions take impact and make we We that
the Additionally, in For to and Growth to review continue end rationalization by of gross estate to Plan million as rate $XXX and expect over actions take of our portfolio complete to part year estate in are annualized are $XXX substantially run to related we million These real to XXXX. $XXX of savings expected XXXX million the result expected of XXXX savings real action further the Fit and be gross in-year XXXX. in
fourth in business. Growth exit wind this our charges million total Additionally, Services X,XXX severance retention for quarter, in Fit be approximately and the down impacted associates the to of the X,XXX $XX Approximately began work. the Content a we the expected For to of related subset quarter of the $X of million of to X,XXX by
million our to by to range the our of clients million Technology estimate a on these $XXX basis of Media $XXX we with may $XXX be Technology million that Content segment. annualized work number to estimated. down X,XXX from than updated of Communications, originally our expect retain an of and the more of revenues down $XXX services in within previous and to We impacted estimate now have X,XXX estimate other to wind We associates from we to as X,XXX, lose million,
one anticipate our of We an factors. and adjusted with of basis. of revenue modestly expected ramp $XX operating impact rate timing down to to revenues the be expected is continue will million two other to over in the next year-over-year the dilutive on years, $XX ramp a subject This million QX down to to margin to
wind-down associates continue real to of equipment. related to any to assets as such and expect estate and transition incur the also these We related charges
impacted including contractual our in to and We work, are working of to reskilling to packages transition severance bonuses, retention while our programs, number partners the providing opportunities this assistance transition with with meet and obligations a continuing programs. various associates participate
of QX At estimate the we an with work. cost certain our wind this time transformation total of $XXX to $XXX earnings million expected Growth Fit charges of call, provided the million associated including plan, For content down in
our towards the less expectations we senior expect impact gross annualized the of slightly our attrition the higher being exit to savings maintaining than range, while on from pyramid the actions the at estimates certain Based million. to-date $XXX $XXX be content that to and million of low-end of services, levels now of
guidance, change a budget of I as that potential comment the the the to days India distribution want part Before few in on dividend turning tax announced was to ago.
date We the are once the funds this of US. proposal it but believe expected to lower significantly law repatriating currently yet cost analyzing The is XXXX. but X, not April can, proposal, the is back enacted,
like to for XXXX. now would the our comment QX and on I outlook full-year
currency to based foreign $XX.XX to a X% on on reported the basis to full-year the expecting from are and exchange impact as range For year-over-year to in we of expect $XX.XX current X% material rates exchange. revenue not billion XXXX, we billion grow constant the a
approximately reflect decision from XXX exit content for segment. healthcare. CMT services This negative and our includes This muted a our continues impact basis of guidance of outlook to estimate within certain a growth financial to year-over-year work points our
assumption X.X% growth first on for basis Based a to $X.XX exchange foreign year-over-year billion range reflecting expect in of range points a the rates, the year-over-year, negative XX of to reported or on to X.X% $X.XX billion, the quarter constant quarter. this $X.XX of exchange $X.XX in growth first currency to billion We for our X.X% revenue billion to X.X% to basis. current translates
growth the work the certain in from within which of our basis estimate decision of impact exit CMT will points business, our negative approximately to XX includes to reflected segment. services content This be year-over-year the
outlook well work. UK, financial a both Revenue and certain impact full-year guidance continued as mentioned and healthcare, assumes QX the the as macro the slow services cautious in previously of growth content in for exiting
XX% full-year between operating we at expect the be XX%, incentive is to which XXXX, compensations adjusted target be to margins assumes For payouts. and
range training, return as expect sales QX run our timing the the while hiring, be in of Plan low actions not will the and Fit on the we branding have marketing from under savings margins the We are investing and taken full slightly investments below to the the automation rate. our end tooling sales and quarter for Growth and of reached
margin full reflects year XXXX lower given As payouts versus a incentive underperformance our reminder, our rate target. compensation
Our XXX and points The XX%, rates. margins that we to for is guidance of that headwind This payout reflects midpoint XXXX target XX% guidance in improvement perform points compensation XXXX, reflect therefore, year-over-year XXX basis will we therefore, of incentive XXXX approximately plan, assumes compensation. of incentive rate approximately will at margin normalized the basis plan absorb. over our margin of a to
diluted $X.XX We EPS expect $X.XX. adjusted deliver in the the range to of
lower the in million XXX XX%. full to tax interest India. guidance million income, approximately EPS a cash reflecting of balance guidance anticipates of is share range shares year $X.XX. approximately count anticipates EPS rate interest and in year-over-year by This rates a both reduced approximately to in decrease XX% This Our impact US the and and a $XX of expected the
the Court adjusted for Obligation, exchange effects Contribution the Supreme Defined India charges the related items, the and and foreign and unusual to gains application by clarification adjustments. as if ruling above to tax any government if net losses, the the provided Guidance non-operating restructuring Indian any, excludes currency of diluted of other EPS
not such immigration guidance changes, policy. from potential or events for account tax impact like does Our any as
we operator, that, call With open can the questions. for
