- Cognizant (NASDAQ:CTSH -2.7%) is lower after slightly beating Q3 revenue estimates and posting in-line EPS. Q4 guidance is for revenue of at least $3.23B and EPS of at least $0.77 vs. a consensus of $3.23B and $0.77.
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Q3 segment performance: Financial services revenue (40.2% of total) +16.8% Y/Y to $3.7B. Healthcare (boosted by the TriZetto deal) +41.7% to $2.7B. Manufacturing/retail/logistics +11.2% to $1.73B. Other revenue +18.1% to $1B.
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Regional performance: North American revenue (78.7% of total) +25.8% to $7.27B (also boosted by the TriZetto deal). U.K. +7.6% to $883M. Rest of Europe (hurt by a weak euro) +2.8% to $605M. Rest of world +28.3% to $497M.
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Financials: $156M was spent on buybacks in Q3. Op. margin (non-GAAP) fell 10 bps to 19.4%. Cognizant ended Q3 with over $4B in cash, and $950M in debt.
- Q3 results, PR