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Cognizant Technology Lowers FY22 Outlook

While reporting its results for the first quarter on Wednesday, tech company Cognizant Technology Solutions Corporation (CTSH) lowered its outlook for the full year 2022.

Looking forward, the company expects revenue to be $19.8 billion to $20.2 billion, or growth of 7.2%-9.2%, and adjusted earnings of $$4.45 to $4.55 per share.

Previously, the company expected full-year revenues $20.0 billion to $20.5 billion and adjusted earnings of $4.46 to $4.60 per share.

Analysts polled by Thomson Reuters currently expect earnings of $4.56 per share and revenues of $20.22 billion. Analysts' estimates typically exclude one-time items.

Cognizant Chief Financial Officer Jan Siegmund said, "Our updated 2022 constant currency revenue guidance includes an improved organic revenue growth outlook and a lower inorganic contribution, reflecting a disciplined acquisition strategy."

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