Cognizant Q4 revenue rises to US $2.74 bn on higher IT spending

Cognizant Technology Solutions Corp, the IT services provider, reported a 16.4 per cent rise in quarterly revenue, helped by higher spending by healthcare and financial services customers.

The company's net income rose to US $362.9 million, or 59 cents per share, in the fourth quarter ended December 31, 2014 from US $324.3 million, or 53 cents per share, in the year-ago period.

Cognizant, which has most of its employees in the country, said revenue rose to US $2.74 billion from US $2.36 billion.

(Reuters)